Apple’s third quarter report shows a slump in iPod and iPad sales, but a gain in iTunes store purchases, for the period ended June 29. Apple posted quarterly revenue of $35.3 billion and quarterly net profit of $6.9 billion, or $7.47 per diluted share. These results compare to revenue of $35 billion and net profit of $8.8 billion, or $9.32 per diluted share, in the year-ago quarter.
The iTunes store had its best quarter to date, with gross billings of $4.3 billion, which yielded revenue of $2.4 billion. Sales of movies, TV shows and apps boosted the bottom line 29 percent from the prior year.
iPod sales dropped 32 percent YOY and revenue fell 31 percent. Instead of iPods, consumers are opting for iPhones or iPads, which offer the same features as iPods, in addition to other capabilities. But this trend didn’t keep iPhone and iPad sales from a quarter-to-quarter slump.
Compared to the same quarter last year, iPhone purchases increased from 26 million to 31 million, but iPad sales fell for the first time in history, down from 17 million to 14.6 million.
Next up: Leaders of the Cupertino based company say they are focusing on new products for the automobile, but won’t elaborate.
About the Author
Sarah Skates has worked in the music business for more than a decade and is a longtime contributor to MusicRow.View Author Profile
