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Apple iPhone Sales Up, iPad Sales Sink in Q3 2014

by Todd Haselton | July 22, 2014July 22, 2014 1:35 pm PST

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Apple just released its fiscal year third quarter 2014 earnings report. The Wall Street consensus called for earnings of $1.23 per share on $38.03 billion in revenue, and Apple beat expectations with an EPS of $1.28 on revenue but missed with $37.43 billion in revenue.

Last year, Apple reported $35.3 billion in revenue versus an earnings per share of $7.47, though that EPS reflects Apple’s share price before its 7-for-1 share split, which is why earnings per share appear lower this year. Apple CEO Tim Cook called it a record quarter for the company, despite the decline in iPad sales.

“Our record June quarter revenue was fueled by strong sales of iPhone and Mac and the continued growth of revenue from the Apple ecosystem, driving our highest EPS growth rate in seven quarters,” Cook said. “We are incredibly excited about the upcoming releases of iOS 8 and OS X Yosemite, as well as other new products and services that we can’t wait to introduce.”

Here’s the breakdown of device unit sales during the quarter:

iPad unit sales: 13.3 million units.

iPhone unit sales: 35.2 million units.

Mac unit Sales: 4.4 million units.

By comparison, Apple sold 31.2 million iPhone units in Q3 2013, 14.6 million iPad units and 3.8 million Mac units. Last quarter, fiscal Q2 2014, Apple reported a 16-percent decline in iPad sales over the same quarter a year prior, and it looks like that decline is continuing year-on-year into this quarter.

Apple set its revenue guidance for Q4 2014 between $37 billion and $40 billion. Shares of Apple stock are down in after hours trading.


Todd Haselton

Todd Haselton has been writing professionally since 2006 during his undergraduate days at Lehigh University. He started out as an intern with...

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