Apple last night posted its fourth quarter financial results, reporting earnings below analyst expectations but exceeding sales estimates.
The iPhone manufacturer posted sales of $35.97 billion, according to reports, bypassing expectations of $35.8 billion in that line. Though the company reported a net profit of $8.2 billion the earnings per share were a little below the expected $8.75, coming in at $8.67 per diluted share.
Tim Cook, Apple CEO, said “We’re very proud to end a fantastic fiscal year with record September quarter results. We’re entering this holiday season with the best iPhone, iPad, Mac and iPod products ever, and we remain very confident in our new product pipeline.”
Other data released by the company shows that sales of the iPad were down by 17% over the previous quarter, to 14 million units sold, indicating that consumers were waiting for Apple’s iPad Mini announcement. Sales of the iPhone were slightly up over Q3, with Apple selling 26.9 million units compared to 26 million earlier this year.