SHARE

iPhone Sales Brighten Apple’s Q3 Earnings

Cupertino, Calif.-based Apple is riding high on sales of its iPhone smartphone, but a slowdown in the company’s other business units portend some challenges ahead. Apple announced fiscal 2013 third quarter earnings on July 23. Revenues for the period, which ended on June 29, 2013, hit $35.3 billion, a modest 1 percent increase over the […]

Written By

Pedro Hernandez

Jul 24, 2013

Datamation content and product recommendations are editorially independent. We may make money when you click on links to our partners. Learn More

Cupertino, Calif.-based Apple is riding high on sales of its iPhone smartphone, but a slowdown in the company’s other business units portend some challenges ahead.

Apple announced fiscal 2013 third quarter earnings on July 23. Revenues for the period, which ended on June 29, 2013, hit $35.3 billion, a modest 1 percent increase over the $35 billion in revenue the company booked during the same quarter a year ago. The company also reported a net profit of $6.9 billion, or $7.47 per share.

The company narrowly beat analyst expectations, particularly on the sales front. Analyst estimates pegged revenues at $35.01 billion and earnings at $7.32 a share.

Apple has the iPhone to thank.

The device maker revealed that it had sold a staggering 31.2 million iPhones during the quarter, both a 20 percent increase over the 26 million units that the company moved during the same year-ago period and a new record. “We are especially proud of our record June quarter iPhone sales of over 31 million and the strong growth in revenue from iTunes, Software and Services,” said Apple CEO Tim Cook in company remarks.

Apple’s smartphone has proven exceptionally resilient, given Samsung’s assault on the mobile market. The South Korean electronics maker’s Android-powered Galaxy S4 handset emerged as the company’s fastest selling device ever since its late-April launch. In July, the industry was abuzz with reports that Samsung shipped its 20 millionth Galaxy S4.

During a conference call, Apple chief financial officer Peter Oppenheimer indicated that his company’s smartphone has maintained its momentum in practically all types of markets. “iPhone sales were ahead of our expectations and we were particularly pleased with very strong year-over-year growth in iPhone sales in a number of both developed and emerging markets, including the U.S., UK, Japan, Brazil, Russia, India, Thailand and Singapore,” he said.

And old iPhones apparently die hard. “iPhone 5 remains by far the most popular iPhone but we were also happy with sales of iPhone 4 and 4s,” added Oppenheimer.

The picture is somewhat less bright for the iPad.

During the last quarter, the company managed to sell 14.6 million iPads. Last year, that figure stood at 17 million. “The tough year-over-year comparison was driven by both the significant channel inventory increase and the first full quarter of the availability of the third generation iPad in the year ago quarter,” stated Oppenheimer.

The Mac division also experienced a sales decline. The company sold 3.8 million units versus the 4 million in the year-ago period.

Cook signaled that his company is preparing to unveil new offerings to boost the company’s financials across the board. “We are really excited about the upcoming releases of iOS 7 and OS X Mavericks, and we are laser-focused and working hard on some amazing new products that we will introduce in the fall and across 2014,” he said in a statement.

Pedro Hernandez is a contributing editor at Datamation and InternetNews.com. Follow him on Twitter @ecoINSITE.

Ethics and Artificial Intelligence: Driving Greater Equality

FEATURE | By James Maguire,
December 16, 2020
AI vs. Machine Learning vs. Deep Learning

FEATURE | By Cynthia Harvey,
December 11, 2020
Huawei’s AI Update: Things Are Moving Faster Than We Think

FEATURE | By Rob Enderle,
December 04, 2020
Keeping Machine Learning Algorithms Honest in the ‘Ethics-First’ Era

ARTIFICIAL INTELLIGENCE | By Guest Author,
November 18, 2020
Key Trends in Chatbots and RPA

FEATURE | By Guest Author,
November 10, 2020
Top 10 AIOps Companies

FEATURE | By Samuel Greengard,
November 05, 2020
What is Text Analysis?

ARTIFICIAL INTELLIGENCE | By Guest Author,
November 02, 2020
How Intel’s Work With Autonomous Cars Could Redefine General Purpose AI

ARTIFICIAL INTELLIGENCE | By Rob Enderle,
October 29, 2020
Dell Technologies World: Weaving Together Human And Machine Interaction For AI And Robotics

ARTIFICIAL INTELLIGENCE | By Rob Enderle,
October 23, 2020
The Super Moderator, or How IBM Project Debater Could Save Social Media

FEATURE | By Rob Enderle,
October 16, 2020
Top 10 Chatbot Platforms

FEATURE | By Cynthia Harvey,
October 07, 2020
Finding a Career Path in AI

ARTIFICIAL INTELLIGENCE | By Guest Author,
October 05, 2020
CIOs Discuss the Promise of AI and Data Science

FEATURE | By Guest Author,
September 25, 2020
Microsoft Is Building An AI Product That Could Predict The Future

FEATURE | By Rob Enderle,
September 25, 2020
Top 10 Machine Learning Companies 2021

FEATURE | By Cynthia Harvey,
September 22, 2020
NVIDIA and ARM: Massively Changing The AI Landscape

ARTIFICIAL INTELLIGENCE | By Rob Enderle,
September 18, 2020
Continuous Intelligence: Expert Discussion [Video and Podcast]

ARTIFICIAL INTELLIGENCE | By James Maguire,
September 14, 2020
Artificial Intelligence: Governance and Ethics [Video]

ARTIFICIAL INTELLIGENCE | By James Maguire,
September 13, 2020
IBM Watson At The US Open: Showcasing The Power Of A Mature Enterprise-Class AI

FEATURE | By Rob Enderle,
September 11, 2020
Artificial Intelligence: Perception vs. Reality

FEATURE | By James Maguire,
September 09, 2020

SEE ALL
ARTICLES

Pedro Hernandez

Pedro Hernandez is a contributor to Datamation, eWEEK, and the IT Business Edge Network, the network for technology professionals. Previously, he served as a managing editor for the Internet.com network of IT-related websites and as the Green IT curator for GigaOM Pro.

iPhone Sales Brighten Apple’s Q3 Earnings

Pedro Hernandez

Recommended for you...

Company

Categories

iPhone Sales Brighten Apple’s Q3 Earnings

RELATED NEWS AND ANALYSIS

Pedro Hernandez

Recommended for you...

Company

Categories