Apple posts 39% lift in quarterly net profit but sales of iPhone slip
Apple has posted a 54% surge in net profits to $6.62bn in the quarter but sales of its flagship iPhone slipped in the period.
Apple: iPad sales boost results
While Apple claimed record sales of its Mac and iPad computers, the technology giant missed analyst expectations.
The company has been hit by a fall in sales of its flagship iPhone product. In the quarter, the company sold 17.1 million iPhones, a lift of 21% on the previous year. But it sold around 20 million less iPhones than it did in the previous quarter.
Apple recorded an increase of net sales of $6.62bn to £28.27bn for the three months to 24 September, up from $20.34bn for the same period in 2010. Net profit for the quarter was $6.62bn.
Apple's full year net income hit $25.92 for the year to 24 September, compared with $14.01 last year.
Apple's quarterly earnings are the first under new chief executive Tim Cook, with sales of its iPads reaching 11.12 million.
Peter Oppenheimer, chief financial officer at Apple, claims the tech giant recorded a "record September" quarter revenue and expects the next quarter to see revenues of around $37bn.
Tim Cook, chief executive, said: "Customer response to iPhone 4S has been fantastic, we have strong momentum going into the holiday season, and we remain really enthusiastic about our product pipeline."
The iPhone 4S, launched at the beginning of October, left consumers and analysts disappointed when the company failed to unveil the highly anticipated iPhone 5.
Follow Loulla-Mae Eleftheriou-Smith on Twitter @LoullaMae_ES
This article was first published on marketingmagazine.co.uk
Latest jobs Jobs web feed
- PR Account Manager fishtank 24k to 33k per year GBP, Surrey
- Brand Manager Radisson Blu Edwardian, London Competitive , South Kensington, London
- Junior Account Manager fishtank 22k to 28k per year GBP, Buckinghamshire
- senior planner > SPORTS BRANDS collectivo Up to £90,000 plus benefits, London
- Head of Media, Marketing & Communications PGA Competitive, Sutton Coldfield, West Midlands
- Graphic/Web Designer fishtank 27k to 35k per year GBP, United Kingdom
Integrated digital marketing offers huge opportunities to engage, servic...
Mobile marketing is coming of age, and the pace of change is now exponen...
With UK consumers spending an average of £1,083 a year online, int...
Conversational Mobile Marketing: Engage Customers and Empower Advocates (Expert Reports) External website
The pressure is on for marketers and mobile operators to embrace a strat...
As a nation, the UK is media and technology obsessed with over half of t...
All customers have the potential to become your brand advocates, driving...