Apple has announced results of its third financial quarter for 2012, and as expected the company made an impact with impressive numbers. Quarterly revenue of $35 billion was reported by the company, with net profit amounting to 8.8 billion.
For the same period last year Apple reported Quarterly revenue of $28.6 billion with $7.3 billion in profit. Although the year-over-year growth numbers for Apple were impressive, the second quarter saw sluggish and slow sales for the company. Drop in iPhone sales affected Apple’s second quarter of 2012 in a big way. A major chunk of revenue Apple earns comes from sales of its iPhone.
With sales of the iPhone dwindling in the second quarter Apple was hit hard. Two reasons have been cited by tech experts and analysts for sales of Apple’s iPhone taking a beating in the second quarter this year. The first reason being better advertising, sales and marketing strategies implemented by Samsung with its Galaxy line of smartphones and the second being Apple consumers waiting for the next-generation model to arrive.