Profit for the second quarter almost doubled due to iPhone sales via Verizon, even though sales for newly launched iPad 2 were below estimates because of supply shortage.
Fears of growth being affected by supply disruptions from Japan’s earthquake and tsunami were also allayed.
| 2nd Quarter | A year earlier | Bloomberg survey | |
|---|---|---|---|
| Net income (almost doubled) |
$5.99 billion, $6.40 a share |
$3.07 billion, $3.33 a share |
$5.04 billion, $5.39 a share |
| Sales (up 83%) |
$24.7 billion | $13.5 billion | $23.4 billion |
Apple began selling the iPhone through Verizon Wireless in February, and launched the iPad 2 on March 11.
Demand for the iPad has been so strong that Apple has not been able to make enough, leading to sales that were lower than what most analysts predicted.
| 2nd Qtr | Analysts predictions | |
|---|---|---|
| iPhones sold through Verizon | 18.7 million | 16.3 million |
| iPads sold | 4.69 million | 6.1 million |
| Mac computers | 3.76 million | 3.6 million |
| iPod media players | 9.02 million | 9.8 million |
“Apple is ramping up production as it prepares to start selling the tablet computer in 13 additional countries this month”, Chief Operating Officer Tim Cook told Bloomberg.
Still, sales of products in the country may be $200 million lower as consumers coping with the temblor and tsunami buy fewer gadgets, he said.