Apple's Q4 Earnings
On October 26, Apple released a mixed bag of results for its fourth fiscal quarter:
Net sales amounted to $35.7 billion, narrowly exceeding expectations. Apple missed its earnings target though, posting net income of $8.2 billion.
Analysts primarily blame lacklustre iPad sales for the (by Apple’s standards) “disappointing” results. iPad sales came in at 14 million units, missing the analyst expectations by more than 3 million.
Apple’s most important product, the iPhone, continued to perform very well. Thanks in part to the successful launch of iPhone 5, the company sold 35 million smartphones in the past quarter, a 57 percent increase over last year’s fourth quarter.
Overall, the September quarter concluded another impressive fiscal year for Apple. With net profit of $41.7 billion on $156.5 billion revenue, Apple underpinned its status as one of the most profitable companies in the world.
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