UPDATE: AAPL shares up, iTunes sells, iPad tanks

July 24
12:13 PM 2013

According to Apple's (AAPL) most recent report, the company's third quarter fiscal revenue beat analysts' forecasts, but predicts that this quarter's revenue will settle below expectations.

Yielding total earnings per share of US$7.47, Apple's revenue in the three months increased to about US$35.3 billion. As of the moment, Apple stocks rocketed to almost 5%, at $438.99.

The tech giant announced that it has sold over 31.2 million units of its iPhone brand, while 14.6 million iPads were sold. Previous estimates expected the company to only sell between 26 million to 27 million units. The iPad, however, was expected to sell more at 16 million.

Apple reported that it has sold 3.8 million units of its Mac notebook, and 4.6 million iPods. Both figures were under the predicted number.

Tim Cook, chief executive officer of Apple, said that the company's iTunes division gained this quarter, driven by a growth in sales from music and audio content.

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