Tuesday, April 28, 2015

Apple Announces Financial Results

Apple has announced there financial results for its latest quarter, revealing that total revenue and profit was up year-over-year, but iPad sales continued to fall. Apple posted $58 billion in revenue and a profit of $13.6 billion. This compares to revenue of $45.6 billion and net income of $10.2 billion during the same period last year. iPhone and Mac sales were up compared to last year, the same can't be said for the iPad. Total sales for the tablet line came in at 12.6 million, compared to 16.3 million during the same period last year. Year after year iPad sales declines is becoming a regular occurrence for Apple, and Tim Cook says he many know why. "What you do see is that people hold onto their iPad longer than they do a phone," Cook said back in October. "Because we've only been in this business for 4 years, we don't know what the upgrade cycle will be for people."

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