Apple has record third quarter
Consumer electronics giant Apple Inc. set record after record yesterday, hitting all-time highs with its quarterly profits and revenues, its stock price, and with iPhone and iPad sales, CNNMoney reported.
Apple sold 20.3 million iPhones in its fiscal third quarter, which ended June 25, and the company attributed the strong showing to robust sales in emerging markets such as China, Latin America, Brazil and the Middle East. The number was surprising; for the first time since the iPhone’s 2007 debut, Apple did not release a new iPhone in June, leading experts to believe that consumers would hold off on purchases.
The company also sold a record 9.25 million iPad tablet computers in the quarter.
One weak spot in the strong sales was the 7.5 million iPods, a type of MP3 music player, that the company sold, about 20 percent lower than iPod sales last year. Last quarter marked the first time Apple’s tablet has outsold its MP3 player.
Apple more than doubled its net income during the third quarter to $7.3 billion, or $7.79 per share. Analysts polled by Thomson Reuters had expected earnings of $5.85 per share.