Top Tech Stories of the Day: Apple Rings up 31.2 Million IPhones in Q3

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Top Tech Stories of the Day: Apple Rings up 31.2 Million IPhones in Q3

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Top Tech Stories of the Day: Apple Rings up 31.2 Million IPhones in Q3

by Wochit 1:00 mins

Top Tech Stories of the Day: Apple Rings up 31.2 Million IPhones in Q3

by Wochit 1:00 mins

While many smartphone makers are reporting softer sales amid escalating competition, Apple posts strong performance in the quarter. Posting its fiscal third-quarter financials after market close, Apple reported earnings per share of $7.47 on revenue of $35.3 billion. Both numbers beat Wall Street estimates. Analysts had been expecting Apple to post earnings per share of $7.34 on revenue of $35.18 billion. As Apple reports quarterly results after the close of business their gross profit margin has been falling since it hit 47% at the beginning of 2012. The company?s top-of-the-line iPhone 5 carries the highest profit margin, analysts say but worries about low supply levels make Apple shakey.

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