Apple reported lower-than-expected quarterly
earnings Tuesday as sales of iPhones stalled in advance of the
expected release of a new version of the hit device later this year.
The company's stock dropped some 6 percent in the minutes after the earnings announcement, in which the company posted third-quarter revenues of $35 billion, up from 28.6 billion dollars in the year-earlier quarter. Profits were $8.8 billion, up from $7.3 billion a year ago, Apple said.
Apple sold 26 million iPhones in the quarter, an 8.8 percent rise from a year ago. Sales of iPads rose 84 percent to 17 million units.
The company sold 4 million Mac computers during the quarter, a 2 percent unit increase over the year-ago quarter, but sales of iPods declined by 10 percent to 6.8 million units.
Most Popular Stories
- Facebook, Twitter Announce Apps for Google Glass
- Will Yahoo Splurge on $1-Billion acquisition of Tumblr?
- European Car Sales up First Time in 20 Months
- Google Fiber Making an Impact
- 'Star Trek Into Darkness': The Return of Khan?
- Entrepreneurs Chase Social Media
- Exciting Night for UFC Fans
- Teen Drivers Should Be Prepared for Any Car-Related Situation
- Summer Movies Aimed at Young Men, Teen Boys
- RFD-TV launches on Charter Cable