Apple revealed its financial information and results for the fiscal quarter 3 of 2013 and the numbers don’t sound as appealing as investors would like. It appears that the company’s profit has fallen by 20%, reaching $6.9 billion, or $7.47 a share.
The revenues were relatively flat and reached $35.4 billion for the 3 month period that ended with June 2013. The iPad seems to have been responsible for the slight drop in profit. How? Well, in Q3 2012 Apple sold 17 million units of the slate, while this year they moved 14.6 and keep in mind that since Q3 2012 we’ve seen two more iPads launch, so that’s even worse.
The iPhone is still going strong, setting a record of 31.2 million units, up from 26 million in the third quarter last year. Apple CFO, Peter Oppenheimer noted that while profits were down a bit, still Apple managed to generate $7.8 billion in cash flow from operations during the quarter. I should probably mention that this is one of the few times when a financial announcement from Apple didn’t even mention the iPod. Is it doing that bad?