Although Apple missed revenue estimates, the company’s says its stronger than expected EPS is the result of strong iPhone and Mac sales. This quarter the company reported 35,203 iPhone sold, up from 31,241 units sold in Q3 2013.
According to Apple chief Tim Cook, “our record June quarter revenue was fueled by strong sales of iPhone and Mac and the continued growth of revenue from the Apple ecosystem, driving our highest EPS growth rate in seven quarters.”
Apple reported $7.7 billion in profit this quarter, up from $6.9 billion in Q3 2013. Last quarter, Apple reported $10.2 billion in profit on revenues of $45.6 billion.
Although Apple’s Q3 2014 was light on consumer-ready releases, the company’s annual developer conference, WWDC, set the stage for what analysts expect to see in Q4. OS X Yosemite, iOS 8, HealthKit all debuted at WWDC, but investors are likely more interested in a number of widely-rumored, yet unannounced products, including the iPhone 6 and the iWatch.
Apple sold 16.35 million iPads during Q2 2014 – less than analysts expected. According to market research firm eMarketer, Apple is expected to lose share of the total U.S. tablet market this year, but may see slight growth in its overall share of U.S. smartphone users. More, from eMarketer:
Apple’s share of US smartphone users will rise to 40.5% in 2014, up from 40% last year and 36.5% in 2012. While the number of overall iPad users continues to increase, Apple is losing share as others enter the market. Apple’s share of US tablet users is expected to fall to 51.8% in 2014, according to eMarketer, down from 54.5% last year.
Apple designs and markets consumer electronics, computer software, and personal computers. The company's best-known hardware products include the Macintosh line of computers, the iPod, the iPhone and the iPad. Apple software includes t... read more »