Apple today posted its financial results for Q2 2014 and the numbers shouldn’t come as a surprise to anyone. The company reported earnings of $10.2 billion in a quarter with no new hardware announcements and managed to better its year on year performance as well.
While projected revenues were estimated at between $42 to $44 billion, Cupertino managed to surpass it and managed $45.6 billion in revenues. The numbers were achieved through a significant 17.9 percent year on year increase in iPhone sales. On the other hand iPad sales were down 16.4 percent year on year. The company shipped 43.72 million iPhones in the last quarter in addition to 16.35 million iPads. The iPhone is responsible for the lions share of the revenue with sales numbers for the Mac amounting to 4.14 million units and iPod sales down almost 51% YoY at 2.76 million units sold.
Looking at the broader picture though it is clear to see that the company’s growth is slowing down compared to the explosive growth patterns seen before. Apple’s guidance for the next quarter is to expect revenues between $36-$38 billion. As analysts begin to raise questions about the slowing growth, hopes are pinned on disruptions in new verticals with television and wearables being the hot favorites. Tim Cook, CEO Apple had this to say on the matter ,”We’re eagerly looking forward to introducing more new products and services that only Apple could bring to market.”