Another Record Quarter for Apple

Another Record Quarter for AppleOn Tuesday, Apple reported earnings for its third fiscal quarter of 2015. And while the numbers were impressive, if not record-breaking in some cases, shares of Apple still tanked in after-hours trading s a result of missed analyst estimates.

So how did Apple perform last quarter? Spectacularly.

Apple posted quarterly revenue of $49.6 billion and quarterly net profit of $10.7 billion. These results compare to revenue of $37.4 billion and net profit of $7.7 billion in the year-ago quarter.

Apple attributes the growth to record third quarter sales of iPhone and Mac unites, all-time record revenue from services and the “successful launch of Apple Watch.”

“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 Tim Cook, Apple’s CEO. “The excitement for Apple Music has been incredible, and we’re looking forward to releasing iOS 9, OS X El Capitan and watchOS 2 to customers in the fall.”

The biggest disappointment from yesterday’s report was likely iPad sales, which approached 11 million for the quarter. That’s down 18% over last year.