Info-tech

New iPhones power Apple to revenue bump, but earnings fall

DPA San Francisco | Updated on March 12, 2018 Published on October 29, 2013

iPad Air. (Image Courtesy: Apple's Official Website)

Powered by strong sales of its new iPhone 5S, Apple posted fourth-quarter revenue of $37.5 billion on Monday, up 4 per cent from $36 billion a year ago. But earnings fell 8.5 per cent to $7.5 billion.

The company said it sold 33.8 million iPhones, a record for the September quarter, compared to 26.9 million in the year-ago quarter.

Apple launched its new flagship model, the iPhone 5S in the quarter, and together with a lower cost model, the 5C, sold a record 9 million units over the launch weekend.

Apple also sold 14.1 million iPads during the quarter, compared to 14 million in the year-ago quarter. Mac sales dropped to 4.6 million units, compared to 4.9 million in the year-ago quarter-a fall-off which some analysts viewed as the main cause of the profit slip.

“We’re pleased to report a strong finish to an amazing year with record fourth-quarter revenue, including sales of almost 34 million iPhones,” Tim Cook, Apple’s chief executive, said in a statement.

Apple is set to release two new iPads in November and projected revenue for the current quarter, which includes the holiday shopping season, of $55 billion to $58 billion, compared with average analyst expectations of $55.7 billion.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on October 29, 2013
null
This article is closed for comments.
Please Email the Editor