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Apple quarterly results disappoint Wall Street

Linda Endersby

The normal tech darling of Wall Street Apple delivered results which were not quite as glowing as Wall Street had been anticipating with the vendor blaming a weak European economy and a pause in iPhone sales as users wait it out for version 5.

The vendor delivered quarterly revenue of $35.0 billion and quarterly net profit of $8.8 billion up 21% year on year for its third quarter ended 30 June.

International sales accounted for 62 percent of the quarter’s revenue and the global demand is still there for its tablets and phones, although Mac growth was lower than it has been at just 2%.

In terms of shipment figures the vendor shifted 26m iPhones (28% growth year on year). 17m iPads ( 84% up) and 4m Macs.

 “We’re thrilled with record sales of 17 million iPads in the June quarter,” said Tim Cook, Apple’s CEO. 

“We’ve also just updated the entire MacBook line, will release Mountain Lion tomorrow and will be launching iOS 6 this Fall. We are also really looking forward to the amazing new products we’ve got in the pipeline," he added.

“We’re continuing to invest in the growth of our business and are pleased to be declaring a dividend of $2.65 per share today,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the fourth fiscal quarter, we expect revenue of about $34 billion."

 


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