Apple's first quarter earnings are in. According to Bloomberg News, Apple made $US13.1 billion in profit on $US54.1 billion in revenue. It sold an absurd 47.8 million iPhones. Somehow, this is a disappointment.
Apple has been fighting off rumours of lagging interest in its products — iPhone and iPad specifically — for weeks now. The $US54.1 billion missed its $US54.88 estimate, and the company's stock continued to fall after hitting a record back in September.
For reference, last year over the same period, Apple made a profit of $US13.06 billion on $US46.33 billion in revenue. It sold 37 million iPhones. So profit is down, slightly, but this isn't a case of Apple taking a dive so much as levelling off. [Bloomberg]