Apple Earnings: Big Sales, but Questions About Future

Apple does its best to turn the market around.

What recession?

We've said it before, but Apple continues to tear the cover off the ball, in the midst of slow times for the rest of the country. Though Wall Street's estimates were missed, Apple did make its own expectations (per usual).

The Cupertino tech giant just released its quarterly earnings report, and here are the highlights:

  • $35 billion in revenue, ahead of the $28 billion from last year
  • 26 million iPhones sold, and 17 million iPads sold, 4 million Macs sold

At first blush, not enough to excite investors, and Apple shares (AAPL) fell as the numbers got out. There was a drop in iPhone units of 9 million, compared to the previous quarter.

All this comes, of course, ahead of Apple's expected launch of the newest iPhone. The guesses seem to have the new phone coming out in time for the holiday shopping season. That will generate lots of buying once again.

And, in three more months, we'll see how that moves the needle.

Scott tracks Apple on Twitter: @scottbudman

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