Profits dip again for Apple, while iPhone sales beat record
Apple’s profits fell for a second consecutive quarter, even as the company enjoyed record iPhone sales for the April-to-June time period.
For its fiscal third quarter ended June 29, Apple reported sales of $35.3 billion, with net profit at $6.9 billion. That translated to earnings of $7.47 per diluted share. Apple’s revenue marked a record for the June quarter, ticking up 1 percent from the $35 billion Apple posted in last year’s third quarter. Still, profits fell 22 percent year-over-year, down from $8.88 billion in 2012. Apple also reported a drop in profit during its fiscal second quarter of 2013.
Apple’s performance for the third quarter topped analyst expectations. Analysts were looking for the company to earn $7.32 a share on $35 billion in revenue.To read this article in full or to leave a comment, please click here
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