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iPhone Sales Up 26% Thanks to 5s, 5c Releases

By Craig Galbraith
October 29, 2013 - News
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Releasing a pair of new iPhones just before the end of September did wonders for Apple's numbers in its fiscal fourth quarter, despite the fact that the company's profit is down from a year ago.

Apple made a profit of $7.5 billion in the quarter, which beat analysts' estimates of $7.2 billion. In the same quarter a year ago, however, the Silicon Valley giant made $8.2 billion. Revenue last quarter was $37.5 billion; that, too, was more than what Wall Street was predicting (approximately $36.9 million according to stats compiled by the Wall Street Journal).

While these are numbers that would make most companies green with envy, it's actually the third straight quarter that Apple has seen profit fall.

The company sold 33.8 million iPhones during the period, compared to a little less than 27 million in its fiscal fourth quarter in 2012. That's a jump of almost 26 percent. iPhone revenue was up 17 percent, but iPad revenue dropped by 13 percent.

On a regional level, international sales are on the rise – particularly in Asia, and most notably, Japan, where sales were up 41 percent. Revenue in the Americas and in Europe were relatively flat.

“For F2014/15, we believe a TD-LTE iPhone launch with the world’s largest carrier China Mobile could bolster March quarter sales and offset some of the post-holiday seasonal trends in Western markets," noted Canaccord Genuity analyst Michael Walkley, "and we believe Apple is well positioned to exceed forward consensus estimates despite our expectations for more aggressive iPhone 5c pricing to drive international volumes in C2014.”

Apple's stock price was up slightly on Monday's news, but fell nearly 2.5 percent on Tuesday.

Follow senior online managing editor @Craig_Galbraith on Twitter.

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