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.
