Apple sales surge, but stocks slump as iPad figures disappoint

By Aemon Malone October 19, 2010

Apple announced huge earnings for its fourth fiscal quarter, posting a record-setting revenue of $20.34 billion with a net profit topping $4.3 billion. Compare that to a net profit of $2.5 billion over last year’s fourth quarter. The earnings defied Wall Street’s forecasts about the company’s earnings potential. Apple’s strong performance rested primarily on strong sales of its iPhone, which accounted for more than 14 million units sold. It was the first earnings period to include sales of the iPhone 4. The company also sold 3.89 million Macs -– a new record for the company.

That was the good news for Apple. The bad news is that despite all the record sales, some seem to remain unimpressed with the performance. Apple stock actually ended down over 6 percent on Monday following after-hours trading. The reason for Wall Street’s chilly reaction seems to lie in news of iPad sales which fell below expectations: Apple managed to sell 4.2 million iPads for the quarter, analysts were predicting 4.8 million units sold. Not even Apple can please everyone all the time.

In a rare earnings call, CEO Steve Jobs himself wasted no time in reassuring the public that the company remains committed to the iPad’s success. He declared, “we’re out to win this thing,” referring to the emerging tablet computer market. He also went on to provoke some smartphone competitors in the process, but that’s another story.

Editors' Recommendations

Topics

Former Digital Trends Contributor

Mobile

How to schedule a text message on your iPhone

Close-up photo of the Messages app on an iPhone.

Do you often send text messages to a friend or family member across the pond? Or do you want to message someone when you know they’re off work and are able to get to you in a reasonable manner? Maybe you want to send a message every day at the same time, to let your significant other know you’re on the way home and to ask if they need you to pick up anything.

If you said yes to any of these scenarios (or other ones you have in your head), you may be looking for a way to schedule text messages on your iPhone. After all, this is a feature that Android users have, and it can often prove incredibly convenient.

Mobile

iPhone SE deals: Refurbished 2nd and 3rd Gen iPhones

apple iphone se 2020 news new black camera and touch id 04152020

Apple’s iPhone is one of the most popular phones on the planet, and whatever its current model happens to be almost always ranks among the best phones. This makes the iPhone an expensive purchase, which is where the iPhone SE comes in. Apple launched the iPhone SE in order to make an iPhone affordable to more people. The SE utilizes technology that’s a generation or two old and will often take the form factor of a previous iPhone model. Right now the it's a great phone to turn to for even more savings. There are some iPhone SE deals to take a look at out there, and while it’s difficult to find newer iPhone SE models, you can shop refurbished knowing the big retailers are likely backing the purchase with warranties and solid return windows. So whether you’re looking for some great iPhone deals or phone deals in general, below you’ll find the best iPhone SE deals to shop right now.
iPhone SE 2nd Gen deals

The second generation of the iPhone SE was initially launched in 2020, but it still manages to keep up with the needs of many phone users today. It utilizes the body of the Apple iPhone 8, which means it will have a home button and fingerprint ID instead of the Face ID technology in current iPhone models. That’s not much to give up, however, as the second generation iPhone SE still has a great display, a 12-megapixel camera with the ability to shoot 4K video, and wireless charging capability.

Mobile

This one Apple Fitness feature completely changed how I exercise

Someone holding an iPhone with the Apple Fitness app open, showing the Custom Plans feature.

I have a confession to make: I'm not good at sticking to a workout routine. I love running, high-intensity interval training (HIIT), strength training, etc. In the moment of those exercises and in the post-workout euphoria, I feel amazing. But when it comes to waking up early in the morning to do these things before work? Well, that's where I really struggle.

This has been a problem for a while now. I go to bed with the goal of waking up early and going to the gym, but as I groggily open my eyes to snooze the alarm on my iPhone 15 Pro Max, I end up falling back asleep. And I've been repeating this over and over and over again.