Apples iPhone Sales Fall, Dragging Down Results

Apple's iPhone sales fell dragging down expected revenues, but the company posted strong iPad sales in its fiscal third quarter.

Apple sold 26 million iPhones and 17 million iPads vs. 35.1 million and 11.8 million, respectively, in the second quarter. The consensus among analysts was that Apple would sell 29 million iPhones and 16 million iPads. The company also sold 4 million Macs in the quarter, a 2% increase over the year-ago quarter.

Earnings for the quarter were $9.23 per share on revenues of $35 billion. Analysts polled by Thomson Reuters had expected earnings of $10.22 on revenues of $38 billion. Apple had provided guidance of $34 billion and earnings per diluted share o…
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