Apple’s profits continue to rise. This week, the company released its fiscal third-quarter earnings report, showing revenue of $37.4 billion and a net profit of $7.7 billion—a record June quarter for the company. Apple declared a cash dividend of $.47 per share of the company’s common stock.
The earnings somewhat underperformed Wall Street’s estimate of $37.99 billion in revenues, though the per-share earnings exceeded the $1.23 forecast by analysts.
Sales of the iPhone were up year-over-year: 35 million units were sold—a third-quarter record—generating $19.75 billion in revenues, compared to 31.2 million units generating $18.1 billion a year ago.
The iPad is still the second-biggest seller among Apple's product lines—but showed perhaps the biggest weakness among the company's major products. Apple sold 13.3 million tablets during the quarter, down from both the second quarter, when 16.3 million units were sold, and from the third quarter of 2013, when 14.6 million units were sold. Revenue declined by 8 percent, year over year, from $6.4 billion to $5.9 billion.
Considering the buzz about the iPhone6 and the iWatch (New Rumor: It may be called iTime) the momentum continues even taking into account those of us with older versions of the iPhone holding off purchase until the iPhone6 comes out in the fall.
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