Apple profit up 24%, iPad a woe

Agencies : San Francisco, Fri Oct 26 2012, 12:59 hrs

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US technology giant Apple Inc has reported 24 per cent jump in net profit to USD 8.2 billion for the July-September quarter driven by higher sales of iPhones.

In the year-ago period, the company had a net profit of USD 6.62 billion, Apple said in a statement.

The company's revenues surged 27 per cent from the year-ago period to USD 36 billion for the fourth quarter ended September 29, 2012. Higher international sales accounted for 60 per cent of the quarterly revenue.

"We're very proud to end a fantastic fiscal year with record September quarter results," Apple CEO Tim Cook said, adding, "we are entering this holiday season with the best iPhone, iPad, Mac and iPod products ever, and we remain very confident in our new product pipeline."

Apple sold 26.9 million iPhones in the quarter, 58 per cent growth over the year-ago quarter. It also shipped 14 million iPads, which is 26 per cent more than the year-ago period.

The company sold 4.9 million Mac computers in the July-September quarter, a slight rise of 1 per cent over the year-ago quarter. However, Apple saw 19 per cent decline in iPods sales to at 5.3 million.

According to market analysts, lower than expected iPad shipment have triggered some concerns. One of the reason for lower sales of iPad could be the users were waiting for the launch of iPad mini, which would hit the stores next month.

Apple has declared a cash dividend of USD 2.65 per share of the company's common stock.

The tech firm announced a revenue guidance for the quarter ending in December of USD 52 billion and diluted earnings per share of about USD 11.75.

For the 12 months ended September 29, Apple has posted 61 per cent jump in net profit to USD 41.73 billion and net sales elevated by 45 per cent to USD 156.5 billion for the 2011-12 fiscal.

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