Apple QIII results went up by 21% to $8.8 billion or $9.32 per share on revenue of $35 billion, 22% up from a year earlier.
However, the results were not as per prediction from analysts and Apple shares fell by $34 in after-hours trading, a fall of 6%. Previous estimates predicted that Apple would earn per share of $10.36 on revenue of $37.2 billion.
Although Tim Cook said he was delighted with the record sales of iPads it is expected from him. Apple reported 28% increase in sales of iPhones from the same quarter last year to 26 million. An 84% increase was seen in iPad sales which shipped 17 million units.
Although the numbers are impressive iPhone sales in QIII couldn’t manage to match the QII number of 35.1 million units. Speculation is consumers are waiting for iPhone 5.
Apple confirmed 650,000 apps in the App Store and payment of $5.5 billion to developers.