Apple Rakes In $35B Worth Of Q3 Revenue

Missed Wall Street’s third quarter estimates? Apple nevertheless surpassed its own estimates and established record sales for the iPad.

For the third fiscal quarter, Apple generated $35 billion worth of revenue and earnings of $8.8 billion or $9.32 a share, short of Wall Street’s projection of $37.2 billion revenue or $10.35 a share. However, the figures were higher than its $28.57 billion revenue and $7.31 billion profits from the same period last year.

Once again, the iPhone emerged as Apple’s top selling device with 26 million units sold for the quarter, down from Wall Street expectations of 29 million units. However, it was a 28 percent increase from the same period in 2011. Verizon and AT & T reported selling 2.7 million and 3.7 million iPhones, respectively.

The Apple iPad set record sales for the quarter shattering its previous high of 15.43 million units. The 17 million units sold for the quarter was 84 percent higher than its sales during the similar quarter last year. It is worth noting that this is the first full quarter that the third generation tablet was being sold since its launch in mid-March.

However, the Mac registered disappointing sales figures at only 4 million units. Wall Street projected around 4.1 million units to be sold during the quarter. Also suffering in sales was Apple’s desktop line, decreasing 18 percent in revenue compared to the previous quarter and 19 percent from the similar period last year. According to Apple representatives, the decline was attributed to the shift towards portable computers.

Around 6.8 million iPods were sold during the quarter, a decrease of 10 percent from the same period last year but more than Wall Street expectations of 6.38 million units.

Meanwhile, Apple is set to release its major upgrade of the OS X in the Mac App Store. The new upgrade called Mountain Lion will bring several iOS features to the Mac. It will come with Twitter integration, Apple’s Game Center, and iMessage services. Gatekeeper, a new security feature, will also come with the upgrade. The app is designed to thwart malware by controlling what applications to install and restrict.

Melvin Magadia is a content writer for http://www.branders.com selling golf giveaways. He is a gadgets freak and spends his spare time with his family and in surfing the Internet and watching television.

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