Skip to main content

Apple quarterly profit up 69 percent as iPad sales roar

ipad-2-sold-out
Image used with permission by copyright holder

Apple is set to announce their third quarter profits today, and Bloomberg analysts expect a 69 percent leap in profit. Despite sales of the iPhone 4 slowing as the phone hits the end of its product cycle amidst iPhone 5 (or perhaps 4S) rumors, an explosion of iPad 2 sales matched with a steady movement of Macs have buoyed the company.

Bloomberg compiled its report from data based on the averaged predictions of its analysts. Those estimates suggest that Apple’s total quarterly sales hit $25 billion, a big growth of 59 percent, while profits hit $5.5 billion.

The numbers suggest that the iPad has been a crucial added element to Apple’s steady release of new products. Because the iPhone has been Apple’s biggest seller, the company was previously forced to float along with the ebb and flow of demand throughout the phone’s product cycle, with computer sales generally being more steady. However, with the iPad, Apple has another massively popular device that it can use to offset the iPhone’s launch cycle. So as iPhone sales wind down in preparation for a new device, Apple now has the ability to launch a new iPad to boost sales, as it seemingly did to much success this year.

Of course, the iPhone is still Apple’s bread and butter. Bloomberg’s analysts estimated that iPhone sales dropped around 8 percent last quarter thanks to swirling rumors about the next-gen iPhone. Sales most likely will continue to slow as info about the new iPhone’s better camera, faster processor and all-around better-ness surface ahead of a late summer, early fall launch.

With a new MacBook Air also coming this week, Apple looks to be trying to strengthen its more unique offerings. With the release of OS X Lion still reportedly a ways off, Apple’s regular computing efforts this year have taken at least a superficial backseat to its mobile and ultraportable ecosystem. With the number so far looking pretty great, Apple’s strategy seems to be working.

Editors' Recommendations

Derek Mead
Former Digital Trends Contributor
Apple iPad Air is back down to its Black Friday price
The back of the iPad Air 5.

For those who are on the hunt for iPad deals, you probably should take advantage of Best Buy's $150 discount for the Wi-Fi, 64GB model of the fifth-generation Apple iPad Air. From its original price of $600, it's back down to $450, which is what the tablet was going for during Black Friday and Cyber Monday. If you missed the chance to buy the device back then, you shouldn't let this opportunity slip through your fingers -- proceed with completing the transaction now while it's not yet too late.

Why you should buy the Apple iPad Air 5th Gen
The 2022 Apple iPad Air reigns over both of our lists for the best iPads and best tablets, primarily because of the power it packs for a reasonable price. You'll be able to watch streaming shows, play video games, browse the internet, and multitask between all of these apps without any issues. This is possible through Apple's M1 processor, which comes with an eight-core CPU for efficient performance, an eight-core GPU for amazing graphics, and a 16-core Neural Engine and 8GB of RAM for fast processing and rendering. The fifth-generation Apple iPad Air may be overkill for some people, but that only means you won't feel the need to make an upgrade for years to come.

Read more
How to manage and cancel subscriptions on an iPhone, iPad, or Apple Watch
iPhone XS Max

If you've recently bought one of the best iPhones, you may think you're done paying, but with all of the subscription services and apps on the iPhone you're really not done yet. That's okay, and it is certainly great to experiment with new products and services on your phone. But what about when you get tired of them, or you've watched all of the best shows on Apple TV+? It's time to cancel time to cancel all of your un- or underused subscriptions on your iPhone!

Read more
Apple’s 2024 iPad plans leaked — and they sound bad
A person's arm holding an Apple iPad Air 2020.

As 2023 is about to wrap up, we can definitely say it's been a peculiar one for Apple’s iPad lineup. Why? Because there were zero new iPad releases this year, which is a bit … odd. This is the first time that Apple has not released a new product in the iPad lineup since it was introduced.

But a new report from Mark Gurman’s Power On newsletter over the weekend seems to give us a look at what Apple’s iPad plans are for 2024. A few weeks ago, I talked about how the iPad lineup as a whole has gotten messy and convoluted. This new report takes both a step forward toward simplifying things while also featuring an interesting addition that I’m not sure who asked for.
Much-needed simplification

Read more