Today Apple announced results of the recently completed
quarter. And the results were impressive including quarterly profit increase of
31%, revenue increase of 22%, and earnings per share increase to $1.96 from
$1.42. Gross margin, a measure of profitability, was 39.9% which was above its
estimated range of 38.5% to 39.5%. Sales in Greater China almost doubled to $12.5
billion compared to same quarter in prior year.
The iPhone continues to be Apple’s biggest seller. The 48.04
million units sold was far ahead of the 39.27 million sold during same quarter
in the prior year. However, this number was slightly lower than the 48.72
million units estimated by analysts. Overall, despite its high price, iPhone
continues to sell quite well in a market that now has more low cost
smartphones.
Alex Green
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