Apple eyes record sales despite a slide in iPads
TECH titan Apple expects its next iPhone launch in September to propel the firm to unprecedented fourth quarter sales of $40bn (£23.4bn).
Despite its record guidance, Apple’s third quarter sales missed analysts’ expectations last night reaching just $37.4bn, short of the expected $38bn.
Unit sales in Apple’s iPad division fell nine per cent on last year to 13.27m devices.
“iPad sales met our expectations but we realise they didn’t meet many of yours,” Apple chief executive Tim Cook told analysts. “We’re very bullish about the future of the tablet market and we’re confident we can continue to bring significant innovation.”
Apple, which derives most of its revenue from high-end mobile devices, said its iPhone division grew 13 per cent during the last quarter, with 35.2m iPhones sold.
Profits during the quarter to 28 June swelled nearly 12 per cent to $7.7bn, or $1.28 per share, ahead of analysts’ expectations of $1.23 per share.
“Our record June quarter revenue was fuelled by strong sales of iPhone and Mac and the continued growth of revenue from the Apple ecosystem, driving our highest earnings per share growth rate in seven quarters,” said Cook.
For the current quarter, which is expected to include the launch of the so-called iPhone 6, Apple offered its highest ever fourth quarter revenue guidance of $37bn to $40bn.
“We have an incredible pipeline of new products and services that we can’t wait to show you,” Cook told analysts, refusing to be drawn into specifics.
Apple’s shares slipped 0.7 per cent during after hours trading in New York, having closed up 0.8 per cent at $94.72 during regular trading.