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Apple iPhones sales drive company's net profit to jump 24 per cent

According to Apple, it sold 26.9 million iPhones in the quarter, an increase of 58 per cent year over year.

BT Online Bureau | October 26, 2012 | Updated 13:11 IST

Apple Inc reported 24 per cent jump in net profit to $8.2 billion for the July-September quarter driven by higher sales of iPhones .

According to Apple, it sold 26.9 million iPhones in the quarter, an increase of 58 per cent year over year. A total of 14 million iPads were sold during the quarter, a 26 per cent increase compared to the same period last year.

The iPhone sales number is higher than estimates by Wall Street analysts that had expected 25 million to 26 million units. But the iPad number falls short of predictions which was between 17 million to 18 million units.

In the year-ago period, the company had a net profit of $6.62 billion, Apple said in a statement.

The company's revenues surged 27 per cent from the year- ago period to $36 billion for the fourth quarter ended September 29, 2012. Higher international sales accounted for 60 per cent of the quarterly revenue.

"We're very proud to end a fantastic fiscal year with record September quarter results," Apple CEO Tim Cook said, adding, "we are entering this holiday season with the best iPhone, iPad, Mac and iPod products ever, and we remain very confident in our new product pipeline."

The company sold 4.9 million Mac computers in the July-September quarter, a slight rise of 1 per cent over the year- ago quarter. However, Apple saw 19 per cent decline in iPods sales to at 5.3 million.

According to market analysts, lower than expected iPad shipment have triggered some concerns. One of the reason for lower sales of iPad could be the users were waiting for the launch of iPad mini, which would hit the stores next month.

Apple has declared a cash dividend of $2.65 per share of the company's common stock.

The tech firm announced a revenue guidance for the quarter ending in December of $52 billion and diluted earnings per share of about $11.75.

For the 12 months ended September 29, Apple has posted 61 per cent jump in net profit to $41.73 billion and net sales elevated by 45 per cent to $156.5 billion for the 2011-12 fiscal.

With IANS and PTI inputs


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