Tough Crowd: Apple Posts $8.8 Billion Profit, Falls Short of Analysts' Expectations

Paul Lilly

Apple late Tuesday announced financial results for its fiscal 2012 third quarter ended June 30, 2012, and the numbers are nothing short of obscene. All those iDevices, app sales, and other products and services combined to rake in an $8.8 billion profit on quarterly revenue of $35 billion, compared to $7.3 billion profit on $28.6 billion in revenue during the same quarter one year ago. Nonetheless, analysts collectively shrugged their shoulders and said, 'Meh, it could have been better.'

Investors have come to expect much from Apple, sometimes too much, so when the Cupertino company reported 'only' 26 million iPhone sales in Q3, Apple's share price promptly dipped more than 5 percent in after hours trading, The New York Times reports . Those iPhone sales represent a 28 percent unit growth over the same quarter last year, however they're well short of the 35 million iPhone devices Apple sold in the previous quarter. What that likely means is that consumers are already looking ahead to the iPhone 5, which is expected to launch this fall.

"Our weekly iPhone sales continue to be impacted by rumors and speculation of future products," Apple CFO Peter Oppenheimer told USAToday .

Apple iPad sales are still going strong. The company sold 17 million iPad devices during the quarter, which is a whopping 84 percent increase over one year ago. It also sold 4 million Macs (2 percent unit increase year-over-year) and 6.8 million iPods (10 percent decline year-over-year).

"We’re thrilled with record sales of 17 million iPads in the June quarter," said Tim Cook , Apple’s CEO. "We’ve also just updated the entire MacBook line, will release Mountain Lion tomorrow and will be launching iOS 6 this Fall. We are also really looking forward to the amazing new products we’ve got in the pipeline."

Looking ahead to the fourth quarter, Apple anticipates revenue of around $34 billion.

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