Apple sells 47.8 million iPhones, 22.9 million iPads
Apple misses analysts' estimates but still has a healthy first quarter over the holidays
Apple's stock price has been tumbling and reports suggest that iPhone demand isn't as strong as it had been expecting, so today's quarterly earnings were highly anticipated. While the company may have missed analysts' expectations, Apple was still able to sell a whopping 47.8 million iPhones and 22.9 million iPads for its first fiscal quarter.
Apple posted a record quarterly revenue of $54.5 billion with $13.1 billion in net profit.
"We're thrilled with record revenue of over $54 billion and sales of over 75 million iOS devices in a single quarter," said Apple CEO Tim Cook, in a prepared statement. "We're very confident in our product pipeline as we continue to focus on innnovation and making the best products in the world."
Interestingly enough, the company didn't break down model sales of its iPhones and iPads although that's relatively standard for Apple. It would have been fun to see how well the iPhone 5 is selling compared to older, cheaper models. We know that Verizon recently sold 6.2 million iPhones and half of those were the older versions.
Likewise, I'm intrigued to see how well the iPad mini is doing compared to its bigger brother. While it lacks the Retina Display and the horsepower of the iPad 4th generation, I truly believe that the size and portability of the iPad mini will eventually make it the best-selling version of the tablet. I like it that much.
We'll be following along the Apple quarterly conference call, so you can expect some more details later today.