By Zack Whittaker for Between the Lines | April 23, 2014
Apple’s cash-cow iPhone unit blasted analyst expectations, making up for one of the quietest three-month periods in the company’s recent history.
Apple reported on Wednesday fiscal second-quarter income of $10.22 billion on earnings of $11.62 per share (statement). Revenue was $45.6 billion, way past its outlook from its January earnings.
Wall Street was expecting Apple to report earnings of $10.17 per share on revenue of $43.55 billion.
In the three-months ending March 29, the company sold 43.7 million iPhones, up from the 37.4 million estimated by Wall Street.
But the technology giant’s iPad line-up plummeted. iPads remain one of Apple’s main business-focused drivers, particularly bring-your-own-device (BYOD) users who buy the tablet for work and home.
iPad sales were 16.35 million, compared to 19.2 million expected by Wall Street. It’s little surprise that sales are down sequentially on its first quarter, which is typically its busiest period with the December holiday season. Apple’s sales often go down in its second and third quarters, ahead of anticipated device releases towards the end of the year.