Apple Inc gave details to the strong quarterly sales of iPhones which was considered as its key product line. However, its iPad sales became weaker than anticipated. This further led to a decline on the company's total profit by roughly 22%.
The Cupertino, California-based gadget producer reported a net income of US$6.9 billion. The income was for the third fiscal period which ended on June 29. Its shares dropped to US$7.47 each which was compared to last year's worth of US$9.32 per share. However, Apple's revenue is now US$35.3 billion in contrast with last year's US$35 billion.
The numbers presented by Apple topped analysts' anticipations. Apple stated that it sold 31.2 million iPhones, compared with around 26.5 million sales that were expected by analysts. However, Apple's sales of iPads were only 14.6 million which failed to surpass analysts' expectations. Analysts expected that Apple would be able to sell 18 million iPads for the third quarter.
The company's stocks hit an all-time high of US$705.07 in September last year before it dramatically pulled back. Apple's stocks increased 4.8% to U$439.14 in after-hours trading. This denoted that the numbers relieved the concerns of investors regarding the growth of the company.
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