updated 04:43 pm EDT, Tue July 22, 2014
iPhone and Mac units rise, iPad takes a hit
Apple revenues rose 6 percent year-over-year to $37.43 billion in its third fiscal quarter, which ended in June, the company has announced. Profits were up 12.3 percent to $7.75 billion, while earnings per share climbed from $1.07 to $1.28 when adjusted for the recent 7-to-1 stock split. Gross margin increased from 36.9 percent to 39.4 percent.
iPhone sales rose 12.7 percent to 35.2 million units, ending up just slightly below analyst projections for the quarter. iPad sales were more disappointing, declining 9.2 percent to 13.28 million units. Mac sales made for a more positive turn, growing 17.6 percent to 4.4 million.
For the September quarter, Apple is guiding revenues between $37-40 billion, and a gross margin of 37-38 percent. Although the margin forecast is in line with analyst expectations, revenue is below a consensus figure of $40.44 billion.