Apple announces it’s earnings for the last quarter. The key takeaways were –

Revenue: $37.43bn v $38bn expected

EPS: $1.28 v $1.23 expected

iPhone sales: 35.2m v 35.3m expected – down 18 percent from the prior quarter, but consistent with sales in the months before an anticipated refresh of Apple’s product line.

iPad sales: 13.3m 14-15m expected – Investors are also watching tablet sales, which slumped 16 percent from the prior quarter. That’s also at the low end of wall street’s estimates. In Brazil, Russia, India and China, growth was very high. However, in the US the market is weaker. Apple has now sold 225m iPads.

September quarter revenue: $37-$40bn v $40.4bn expected

September quarter gross margin: 37-38pc v 37.5pc expected

Apple also sold 4.4m Macs and 2.9m iPods in the period. iTunes accounted for $4.5bn of revenue, down from $4.6bn in the last quarter, while accessories sales were $1.2bn, down from $1.4bn.

China – 26% growth above Apple’s own forecasts

Developers have now earned over $20bn through sales of their software on the App Store. Cumulative app downloads have now topped 75bn.

iPhone 5C – Tim Cook revealed on Tuesday that year-over-year growth rates comparing the iPhone 5c to last year’s performance of the iPhone 4S show the greatest growth. That means that the share gains seen by the iPhone 5c outpaced those of the 2014 iPhone 5s vs. 2013 iPhone 5, and also bested the 2014 low-end iPhone 4s vs. 2013 iPhone 4. So the iPhone 5C is a secret slow burning success.

More than 20 million people watched the WWDC keynote in 2014
Earnings per share up 20% y/y, the highest growth rate in 7 quarters
iPhone sales up 55% y/y in Brazil, Russia, India, and China.

Apple has completed 29 acquisitions since the end of FY 2013, 5 since the end of Q2 2014

iTunes billings grew 22% year over year to reach an all-time high

Clearly, Apple’s future success depends on how great it’s upcoming product line is for the key September quarter. With fever pitch starting on the new iPhone and Apple Wearables it could be exciting times ahead.

CUPERTINO, Calif., Jul 23, 2013 (BUSINESS WIRE) — Apple(R) today announced financial results for its fiscal 2013 third quarter ended June 29, 2013. The Company posted quarterly revenue of $35.3 billion and quarterly net profit of $6.9 billion, or $7.47 per diluted share. These results compare to revenue of $35 billion and net profit of $8.8 billion, or $9.32 per diluted share, in the year-ago quarter. Gross margin was 36.9 percent compared to 42.8 percent in the year-ago quarter. International sales accounted for 57 percent of the quarter’s revenue.

The Company sold 31.2 million iPhones, a record for the June quarter, compared to 26 million in the year-ago quarter. Apple also sold 14.6 million iPads during the quarter, compared to 17 million in the year-ago quarter. The Company sold 3.8 million Macs, compared to 4 million in the year-ago quarter.

It is clear from these results that to maintain it’s turnover, margins have been reduced. The iPhone however is still popular. It is still a brand people want and value.

However, people cannot afford to change their iPhone as often or don’t want to as their current model works just fine.

Apple really need to introduce the next new thing and be successful. Actually, Apple just need to launch their updated iPads and iPhones soon as they haven’t released anything for nearly a year while they focused on ios 7 and new hardware.

What we will see is a change in performance once the new hardware is released.