Apple Inc. has once again witnessed an extra-ordinary good quarter, about which it reported on Wednesday. It has been disclosed that the earnings of the company were almost double than its net income, and it has once again exceeding the estimates of many analyst. This unexpected and great success of Apple has come from outwardly unbelievable sales of iPhone.
Image via WikipediaOn the other hand, if we consider the sales of the newest and biggest Apple product, the iPad, the performance of the company was below the predicted one. The iPad 2 was released to the public, when only three weeks were left in this quarter, whereas manufacturing restrictions was a huge setback for the proper selling of Apple iPads. According to the C.F.O. of Apple Inc., Peter Oppenheimer, Apple is constantly working to make the manufacturing of iPad 2s bigger and better. He also stated that with larger production, Apple has all the intentions to also expand the list of countries in which iPad tablet is being sold directly.Peter was informing his investors during a conference call, when he mentioned that "I'm very confident that we can produce a very large number of iPads for the quarter." Apple has announced that its net income this fiscal quarter, which is the second of the year ending in March; was totaled to $5.99 billion (i.e. $6.40 per share). This has been a very impressive increase which counts up to 95% from the previous $3.07 billion (i.e. $3.33 per share) last year. All major technology experts and analysts had never predicted this much growth for the company, the all voted together by FactSet and had an average expectation of around $5.37 per share.
Furthermore, the revenue of the company for this fiscal quarter was summed up to $24.7 billion, which an increase of 83% from the previous $13.5 billion, last year. The analysts and experts of FactSet had an average expectation of revenue up till $23.4 billion only.
It has been found that this unpredictable growth of the company’s revenue was accounted to the record sale of its 18.65 million iPhones in this quarter, which was millions in excess of the expectations of the analysts. Noticeably, Verizon Wireless was the new company which began selling the phone in the quarter as well, which put an end to the exclusive status of AT&T Inc. for being the only U.S. iPhone carrier for almost more than three time period. Even than AT&T has released a statement that it being very successful in the iPhone sales, is it continues upgrading its large number of existing subscribers. The company bragged about this achievement on Wednesday, as it was made despite the bitter and first ever, competition from Verizon.
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