Technology

Apple Q2: iPhone Blasts Expectations, Makes Up for iPad Decline

[ZDNet]

apple-ios-7-iphone

Apple’s cash-cow iPhone unit blasted analyst expectations, making up for one of the quietest three-month periods in the company’s recent history.

Apple reported on Wednesday fiscal second-quarter income of $10.22 billion on earnings of $11.62 per share (statement). Revenue was $45.6 billion, way past its outlook from its January earnings.

Wall Street was expecting Apple to report earnings of $10.17 per share on revenue of $43.55 billion.

In the three-months ending March 29, the company sold 43.7 million iPhones, up from the 37.4 million estimated by Wall Street.

But the technology giant’s iPad line-up plummeted. iPads remain one of Apple’s main business-focused drivers, particularly bring-your-own-device (BYOD) users who buy the tablet for work and home.

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