Apple profits hit £5.7bn but iPhone growth slows
Apple's net income rose 21% in the quarter ended 30 June to $8.8bn (£5.7bn), but the results missed analysts' estimates as the iPhone's stellar growth started to slow.
Apple iPhone: latest company results show a slowdown in the smartphone's sales
The technology firm sold 26 million iPhones during the quarter (its third financial quarter), a 28% increase year on year.
In the first quarter of the year it sold 35.1 million iPhones in an 88% increase year on year, while in the final quarter of 2011, it sold 37 million and reported record revenue and profit.
Revenues for the quarter ended 30 June hit $35bn (£22.5bn), up 28%
This was short of the Q4 2011 record of $46.3bn (£29.bn), but this quarter did bring a record for the number of iPads sold, which rocketed 84% year on year to 17 million.
Sales of Macs rose 2% to four million and sales of iPods continue to fall, with a 10% decline to 6.8 million.
Peter Oppenheimer, Apple's chief financial officer, said the company expected revenues of about $34bn (£22bn) in the fourth quarter. This figure, being lower than the third quarter, has led to speculation that the much-rumoured iPhone 5 will not launch next quarter.
The last major upgrades to the phone came with the arrival of the iPhone 4 in June 2010 and the iPhone 4S in October 2011.
Tim Cook, chief executive of Apple, said: "We've just updated the entire MacBook line, will release Mountain Lion [desktop operating system] tomorrow, and will be launching iOS 6 this fall."Follow @mattchapmanuk
This article was first published on marketingmagazine.co.uk
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