This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-23428109
The article has changed 6 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Apple profits beat estimates sending shares up 4% | Apple profits beat estimates sending shares up 4% |
| (35 minutes later) | |
| Computer and smartphone maker Apple has reported slightly better-than-expected profits for the third quarter of the year. | Computer and smartphone maker Apple has reported slightly better-than-expected profits for the third quarter of the year. |
| It made $6.9bn (£4.5bn) profit for three months to June, partly thanks to good sales of its iPhone smartphone. | |
| However, the profit figure was 22% below that reported for the same period in 2012 and profit margins were also lower, down from 42.8% to 36.9%. | |
| Despite this, the results sent its shares up 4%. | |
| Revenue was also better than expected, with the company earning $35.3bn, although that was barely above the $35bn of a year ago. | |
| Sales of its iPhone, which was launched six years ago, also encouraged investors, with 31.2 million being sold, a 20% increase and a record for the period. | |
| Average sale prices were down, however, at $581, compared with $608 a year ago. | |
| Its newest product, the iPad tablet computer, saw sales fall by a sharp 14% to 14.6 million, compared with 17 million a year ago. | |
| Losing | |
| Apple has spent most of the past 10 years as the darling of consumers and investors. | |
| But a lack of new products - its last innovation was the iPad, which was unveiled in 2010 - has seen faith in it wane, and strong competition from South Korea's Samsung in particular, has also eaten into its lead. | |
| The results were the second quarter in a row that the technology giant's earnings had been below those of the previous year. | |
| Early reaction from company analysts was mixed. | |
| Daniel Ernst, analyst at Hudson Square Research, had muted praise: "I think it's going to take a new product introduction before we see earnings turn positive," he told Reuters. | |
| "It's a step in the right in the direction with low expectations." | |
| But Adam Sarhan, chief executive of Sarhan Capital, New York, was unimpressed, telling Reuters: "This was a 'blah' quarter and the story hasn't changed. | |
| "Until it delivers a new, innovative product that really adds to both top and bottom-line, I would expect the stock to continue treading water." |