Apple Inc. moved far ahead of all the estimates for the fourth quarter as their earnings soared with the huge sales of the iPhone which have sold almost double compared with the same period next year. However, the iPad disappointed as their sales fell short of the estimates for that period.
Apple (AAPL 298.45, -19.55, -6.15%) countered the disappointment of the iPad with the huge success of the iPhone. Apple chief executive Steve Jobs made a rare appearance to announce the company’s huge success on Monday afternoon at the company’s earnings call.
Jobs also slammed all other smart phone manufacturers and termed the tablets of all other electronic companies as dead on arrival which fail to match up to the huge amount of applications present in iPad and iPhone.
The net income of Apple for this quarter is $4.31 billion, or $4.64 per share which is much more compared to what it was last year. The net income was $2.53 billion at the rate of $2.77 per share for the same period at this time of last year.
Revenue has jumped by about 67% to $20.34 billion. The main reason for this increase was the iPhone whose sales of 14.1 million units in the quarter present an astounding figure. This is way ahead of Wall Street’s estimated figure of 11.5 million units. However, only 4.2 million iPads were sold compared to the estimated 4.8 million units.
The iPhone is Apple’s most profitable product in the market. It has totalled a revenue of $8.8 billion in September quarter which is more than 80% of the total revenue of Apple’s Mac computers.
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