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Apple Profits Increase

|Includes:Apple Inc. (AAPL)

Originally published at www.seclive.com

Filing in Focus: Apple 8-K, July 22, 2014

Apple Inc. (NASDAQ:AAPL) announced its financial results for the third fiscal quarter of 2014, posting continued profit growth, year-over-year. The consumer technology company posted 6% revenue growth, up from $35.3B to $37.4B, with improvements in gross margin. Net income rose from the year-ago $6.9B and $1.07 per share to $7.7B and $1.28 per share. iPhone sales continue to buoy the company's success, with both volume and revenue improving from last year, while iPad sales slipped 8% from last year. CEO Tim Cook commented that the company is pleased with its results and with the direction the company is headed. Lagging iPad sales are not worrying the company, which feels that the iPad is still in early development and will only improve with time.

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Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Stocks: AAPL