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For the first time, analysts, investors, and the public widely expected Apple to post a drop in iPad sales numbers during its second quarter earnings today. And the numbers didn’t lie: The public is not gobbling up iPads like they used to.
Analysts projected iPad sales would reach 19.7 million, an only marginal increase from the 19.5 million iPads sold during the same time period in 2013. In fact, Apple sold 16.35 million iPads, a drop of roughly 16.4 percent since last year.
Apple® today announced financial results for its fiscal 2014 second quarter ended March 29, 2014. The Company posted quarterly revenue of $45.6 billion and quarterly net profit of $10.2 billion, or $11.62 per diluted share. These results compare to revenue of $43.6 billion and net profit of $9.5 billion, or $10.09 per diluted share, in the year-ago quarter. Gross margin was 39.3 percent compared to 37.5 percent in the year-ago quarter. International sales accounted for 66 percent of the quarter’s revenue.
“We’re very proud of our quarterly results, especially our strong iPhone sales and record revenue from services,” said Tim Cook, Apple’s CEO. “We’re eagerly looking forward to introducing more new products and services that only Apple could bring to market.”Apple Reports Second Quarter Results [apple.com]