Apple’s first quarter earnings are in. According to Bloomberg News, Apple made £8.3 billion in profit on £34.1 billion in revenue. It sold an absurd 47.8 million iPhones and 22.9 million iPads — both new records. Somehow, this is a disappointment.
Apple has been fighting off rumours of lagging interest in its products — iPhone and iPad specifically — for weeks now. The £34.1 billion missed its £34.6 estimate, and the company’s stock continued to fall after hitting a record back in September.
For reference, last year over the same period, Apple made a profit of £8.2 billion on £29.2 billion in revenue. It sold 37 million iPhones and 15 million iPads, both records at the time, and both obliterated by today’s results. So profit is down, slightly, but this isn’t a case of Apple taking a dive so much as levelling off. [Bloomberg]