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SAN FRANCISCO (AP) — Excitement for Apple's new iPhone 6 and 6 Plus models
drove sales of a record 39.3 million iPhones in the last quarter, boosting
the company's earnings and revenue well above expectations.
All told, the company sold $23.7 billion worth of iPhones, beating the $21.5
billion in sales expected by analysts polled by FactSet. Apple's signature
smartphones are the company's biggest source of revenue and profit.
"We had a really, really good quarter," Chief Financial Officer Luca Maestri
told The Associated Press. He also credited strong demand for the company's
Mac computers and its online app store.
But the company didn't do as well with its iPad tablets. Apple said it sold
13 percent fewer iPad tablets than it did a year ago. That follows an
industry-wide decline in tablet sales. Still, the company reported even
lower iPad sales than analysts had expected.
Maestri said Apple is counting on interest in new models coming out this
week and a partnership with IBM, which will create new tablet software for
business users, to help shore up tablet sales in the coming months.
Apple's profit rose more than 12 percent for the three months that ended
Sept. 27 to $8.47 billion. Total sales also climbed over 12 percent year-
over-year, to $42.12 billion.
The Cupertino, California, company issued a strong forecast for the upcoming
holiday shopping season as well. The company said it expects total revenue,
from all products, of between $63.5 billion and $66.5 billion during the
quarter that ends in December. That suggests the company will likely beat
the expectations of analysts, who were forecasting $63.7 billion, according
to FactSet.
Apple's shares have surged more than 35 percent this year, when adjusted for
a seven-to-one stock split that occurred in June. The stock is off slightly
since hitting an all-time adjusted high of $103.30 last month.
drove sales of a record 39.3 million iPhones in the last quarter, boosting
the company's earnings and revenue well above expectations.
All told, the company sold $23.7 billion worth of iPhones, beating the $21.5
billion in sales expected by analysts polled by FactSet. Apple's signature
smartphones are the company's biggest source of revenue and profit.
"We had a really, really good quarter," Chief Financial Officer Luca Maestri
told The Associated Press. He also credited strong demand for the company's
Mac computers and its online app store.
But the company didn't do as well with its iPad tablets. Apple said it sold
13 percent fewer iPad tablets than it did a year ago. That follows an
industry-wide decline in tablet sales. Still, the company reported even
lower iPad sales than analysts had expected.
Maestri said Apple is counting on interest in new models coming out this
week and a partnership with IBM, which will create new tablet software for
business users, to help shore up tablet sales in the coming months.
Apple's profit rose more than 12 percent for the three months that ended
Sept. 27 to $8.47 billion. Total sales also climbed over 12 percent year-
over-year, to $42.12 billion.
The Cupertino, California, company issued a strong forecast for the upcoming
holiday shopping season as well. The company said it expects total revenue,
from all products, of between $63.5 billion and $66.5 billion during the
quarter that ends in December. That suggests the company will likely beat
the expectations of analysts, who were forecasting $63.7 billion, according
to FactSet.
Apple's shares have surged more than 35 percent this year, when adjusted for
a seven-to-one stock split that occurred in June. The stock is off slightly
since hitting an all-time adjusted high of $103.30 last month.
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