Apple Inc. (NASDAQ:APPL) just released their earnings for their third fiscal quarter and they shattered all expectations. Their third quarter earnings more than doubled the same period last year. Apple announced a profit of $7.3 billion, or $7.79, compared to $3.25 billion, or $3.51, a year prior. Revenue jumped 82% to $28.57 billion, far exceeding most analysts’ expectations of $24.9 billion, or $5.80 a share.
Most of this revenue came from the iPhone. Apple sold 20.3 million iPhones in the quarter, well above analysts predictions of 17 million. 9.25 million iPads were sold compared to 7.9 million expected. Sales of Macs totaled nearly 4 million units which were in line with Wall Street expectations. Their sales of iPod music players came in at 7.54 million units, slightly below expectations of 8.2 million units.
One interesting thing to note from Apple’s earnings is that international sales account for 62% of total revenue. That means only 38% of all Apple products sold were bought in the U.S. I think this is another sign that consumers in the U.S. are either unwilling to spend money or don’t have it to spend.
Apple is predicting revenue of $25 billion and earnings of $5.50 a share for the next quarter. Analysts’ expectations are a little higher with revenue of $27.7 billion with earnings of $6.42 a share. Many investors are expecting the launch of a new iPhone before the end of Apple’s fiscal fourth quarter as well as updated iMacs.