Record quarter again for Apple
Apple Inc. shrugged off Wall Street concerns with another record quarter on Tuesday, topping analyst expectations and pushing shares up after hours.
The world’s most valuable technology company said revenue for the second quarter was $39.2 billion US, with earnings of $12.30 per share. The news caused shares of Apple to spike on the Nasdaq stock market after hours.
Apple said net profit for the quarter was $11.6 billion.
According to analysts surveyed by Thomson Reuters, Apple was expected to report second-quarter earnings of $10.02 per share on revenue of $36.7 billion.
Shares of Apple have fallen $76, or 12 per cent, from their highest ever closing of $636 on April 9. Apple shares fell again on Tuesday, closing down about two per cent to $560.28.
For the current quarter, Apple chief financial officer Peter Oppenheimer said the company expects to generate $34 billion in revenue with earnings of $8.68 per share.
Apple sold 35.1 million iphones in the quarter, the second best single quarter for smartphone sales in the company’s history, falling just short of the 37 million iphones the Cupertino, Calif.,-based company sold in the first quarter.
Apple’s iphone sales were nearly double the 18.65 million iphones the company sold in the corresponding quarter last year.
Apple has sold more than 109 million iphones over the past four quarters.
Apple said it sold 11.8 million ipads in the quarter, just shy of the 11.9 million units analysts had expected the tech giant to report.