Apple Reports 12% Growth in Profit; Stronger iPhone Sales

In its third quarter report, Apple has posted 12% growth in profit along with strong sales of the iPhone 5. However, iPad sales Apple Starts Mass Production of 4.7-inch iPhone 6slunk for the company. The company said that they sold 35.2 million iPhones in the quarter ended June 28, up 12.7% from the same period last year. However, it is a little lower than analyst expectations. While most of their sales were in the United Sales, BRIC markets–Brazil, Russia, India and China–also showed higher sales for the iPhone.

Higher iPhone sales led to greater Q3 profit at $7.75 billion, up from $6.9 billion in the same period last year. Revenue rose 6% to $37.4 billion. This is the second quarter of double-digit percentage growth in iPhone sales for Apple.

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