Apple’s Profit Declined For A Third Consecutive Quarter

For the third consecutive quarter Apple has reported a decline in profit. Again, this news comes along with the statistic that Apple has sold a record setting number of iPhones’ in the past 3 months. Revenues have been increasing, but overall profit has gone down by nearly $1 billion. Clearly some adjustments need to be made in terms of internal spending efficiency, as Apple products seem to be selling better than ever.

Apple CEO Tim Cook gave comment on the situation:

“We’re pleased to report a strong finish to an amazing year with record fourth quarter revenue, including sales of almost 34 million iPhones,” he added.

“We’re excited to go into the holidays with our new iPhone 5c and iPhone 5s, iOS 7, the new iPad mini with Retina Display and the incredibly thin and light iPad Air, new MacBook Pros, the radical new Mac Pro, OS X Mavericks and the next generation iWork and iLife apps for OS X and iOS.”

Source: CVG