Apple reports 12.7 percent gain in iPhone sales

Shares of Apple closed at $94.72 on Tuesday, showing little change, but CEO Tim Cook said last quarter's earnings show strong "momentum."
By Aileen Graef  |  July 23, 2014 at 12:51 PM
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NEW YORK, July 23 (UPI) -- Apple announced Tuesday that they saw an almost 13 percent jump in iPhone sales last quarter, selling more than 35 million iPhones in three months.

The company attributed a large amount of its growth to a 55 percent increase in iPhone sales in the BRIC countries: Brazil, Russia, India and China. Profit in the third quarter came in at $7.75 billion, up from $6.9 billion a year ago. Revenue also rose 6 percent to $37.4 billion. The iPhone sales contrasted with the 9.2 percent dip in iPad sales.

"We're thrilled with the results, and we're thrilled with where we are going," Apple CEO Tim Cook told the Wall Street Journal. "The momentum is really strong."

Apple is gearing up for its new phone, which will feature a much larger screen, that is expected to launch in 2015. It is also releasing iOS 8 this fall, which reportedly features a complete overhaul of Apple maps in an attempt to compete with Google.

It will also have features including photo syncing, improved typing, easier notification response, a health monitor, shared family accounts, improved messaging that will allow users to drop and add themselves in titled group messages and will allow users to send several attachments.

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