iPhone, App Store Revenues Climb But Fail to Meet Expectations
Apple's latest quarterly earnings report featured several pieces of good news for mobile development firms. The company sold 47.5 million iPhones, a 35 percent increase. “We had an amazing quarter, with iPhone revenue up 59 percent over last year, strong sales of Mac, all-time record revenue from services, driven by the App Store, and a great start for Apple Watch,” said Apple CEO Tim Cook.
However, despite the impressive numbers, Apple failed to meet analyst expectations, which sent the company's stock tumbling. It did not reveal sales and revenue figures Apple Watch, leaving analyst guessing about the success of the new product. And iPad sales continued to shrink; the company sold 10.9 million, an 18 percent decrease year-over-year.