Apple fourth quarter profits have missed the Wall Street forecasts as iPad sales have fallen short of analyst predictions. Profits in the last three months were $8.5 billion (£5bn), up from $6.6 bn last year. Revenues are recorded as $36 bn, a 27% increase.
Apple sold 26.9 million iPhones in the quarter ending 29th September and 14 million iPads. Some analysts are saying that the sales of the iPad were slowed a little as some of the potential audience waited on the iPad Mini which was released a short while ago.
Apple finance director Peter Oppenheimer said “We were happy with the 14 million iPad sales in the quarter. It exceeded our expectations. But as the summer went on, the rumours were pretty rampant about the iPhone and iPad.”
Kitguru says: Great sales, but not quite as good as they expected