Apple announces record sales figures

Looks like Apple's tactic of introducing variants of its phone and tablet worked, with the company announcing record sales of both the iPhone and iPad, along with a record breaking revenue.

It all sounds like good news on the face of it, with Apple hitting $57.6 billion in revenue and $13.1 billion in net profit during the three month period announced. That included 51 million iPhone sales and 26 million iPads sold, both of which were significantly up on the same quarter last year. The iPod sales were down considerably, with 'just' 6 million sold. But Apple probably expected that. After all, who buys an iPod these days?

The headline sales figures should have sent shares in the company flying through the roof, but instead, those shares took something of a hit. The reason? Apple's next quarter expectations are quite modest and its sales outlook for the whole of 2014 has been lowered, which makes Apple far less appealing to investors.

However, Apple might have a trick up its sleeve. As we mentioned yesterday, Apple was rumoured to be working on a mobile payments system and during an earning call, Apple CEO Tim Cook flagged up that very thing.

Talking about buying content with the Touch ID fingerprint scanner, he said: 'Mobile payments in general is one [area] that we've been intrigued with, and that was one of the thoughts behind Touch ID. We're not limiting ourselves just to that.'

Take that as a confirmation as Apple looks for potential areas of growth if hardware sales stall. Expect this one to run throughout 2014, unless Apple surprises us with a launch at WWDC in June.


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