Skip to main content

Apple quarterly profit up 69 percent as iPad sales roar

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
How much will iPads be on Prime Day 2023? Our predictions
iPad Pro 2020 Screen

If you're in the market for a new iPad and you're on the hunt for iPad deals, you have an important choice to make. We're in that time of year where Prime Day 2023 is likely looming. We don't know when it will be, but we do know that products like the Apple iPad will get some sweet discounts. You have to choose whether you should buy an iPad from today's tablet deals, or hold off and hope for a better Prime Day 2023 iPad deal.

We've done some legwork that will help you make that decision. We've looked back the peaks and valleys of the price of various iPad models on Amazon. Below you'll find a table showing several iPad models' full price, current price, price on Prime Day 2022 and price on Black Friday 2022. Finally you'll see a prediction for what we think the price for Prime Day 2023 might go to. "NA" indicates that the iPad either hadn't launched yet or didn't have reported data.

Read more
9 new Apple products that could launch in 2023
The back of the iPhone 14 Pro Max.

As it currently stands, 2023 has already been a busy year for Apple. The company launched a new yellow iPhone 14, brought back the HomePod, and refreshed its Mac lineup with an M2 Mac mini and M2 MacBook Pro. But what else is on the docket? As it turns out, a lot more. From new iPhones, an upgraded Apple Watch, and possibly an AR headset, here are nine products we still expect from Apple in 2023.
iPhone 15 and iPhone 15 Pro

If there is any Apple product with an upgrade cycle that’s literally like clockwork, it’s the iPhone, which is always out in the fall. This year, we can expect the iPhone 15 lineup to include an iPhone 15, iPhone 15 Plus, iPhone 15 Pro, and iPhone 15 Pro Max. However, it is rumored that the iPhone 15 will have a bigger 6.2-inch display this year, but the rest of the lineup will have the same sizes as before.

Read more
Mother’s Day Apple Deals: Save on AirPods, iPads, and Apple Watch
An Apple Watch Series 8 with the screen turned on.

If you're looking for a great gift idea for mom this Mother's Day, there are some fantastic Apple deals happening today. Excellent discounts on everything from AirPods to iPads, Apple Watches, and even MacBooks, whatever your budget, there should be something here for you. To help you figure out what might appeal best, we've taken a quick look at everything available right now.
Apple AirPods (2nd generation) -- $99, was $159

The Apple AirPods (2nd generation) may not be the newest earphones around anymore but they're still worth checking out at this price. They pair up perfectly with all your Apple equipment with it simple to share audio between two sets of AirPods on your iPhone, iPad, or Apple TV. In conjunction with the Lightning charging case, you get more than 24 hours of total listening time with about five hours via one charge. They take seconds to pair up too before providing you (or your mom), a stable and strong connection courtesy of Apple's H1 chip. Using Siri through these earphones is speedy too.

Read more