Phones Limited

Apple profits still up despite iPad sales drop

News   •   Jul 29, 2013 05:16 BST

We know that Apple hasn’t sold as many iPads compared to the same period last year. However, its iPhone sales have made up for the loss, with Apple posting impressive profits.

Apple announced in a press release, “Apple today announced financial results for its fiscal 2013 third quarter ended June 29, 2013. The Company posted quarterly revenue of $35.3 billion and quarterly net profit of $6.9 billion, or $7.47 per diluted share. These results compare to revenue of $35 billion and net profit of $8.8 billion, or $9.32 per diluted share, in the year-ago quarter. Gross margin was 36.9 percent compared to 42.8 percent in the year-ago quarter. International sales accounted for 57 percent of the quarter’s revenue.

“The Company sold 31.2 million iPhones, a record for the June quarter, compared to 26 million in the year-ago quarter. Apple also sold 14.6 million iPads during the quarter, compared to 17 million in the year-ago quarter. The Company sold 3.8 million Macs, compared to 4 million in the year-ago quarter.”

Tim Cook, Apple CEO, said, “We are especially proud of our record June quarter iPhone sales of over 31 million and the strong growth in revenue from iTunes, Software and Services. We are really excited about the upcoming releases of iOS 7 and OS X Mavericks, and we are laser-focused and working hard on some amazing new products that we will introduce in the fall and across 2014.”

Peter Oppenheimer, Apple CFO, said, “We generated $7.8 billion in cash flow from operations during the quarter and are pleased to have returned $18.8 billion in cash to shareholders through dividends and share repurchases.”

Are you one of the people who have made Apple’s stellar profits possible? Let us know through a comment below.

Check us out at our website for more Apple iPad White deals.