Apple easily beat analyst forecasts for its second quarter results reported Tuesday, but sales of its popular tablet computer fell below expectations. The tech giant shipped 4.7 million iPads in the
quarter ending March 26, while analysts had projected about 6 million. Still, that disappointment hardly slowed Apple’s overall business, which generated revenue of $24.7 billion and earnings
per share of $6.40. Analysts who follow Apple expected the company to report a profit of $5.37 a share on sales of $22.4 billion.
In the quarter, Apple sold 3.8 million Macintosh computers and
18.7 million iPhones, both figures above expectations. Besides iPads, sales of iPod also came in below forecasts, at 9 million instead of 9.85 million. Apple reportedly sold 1 million units of the
last version of the iPad during the first weekend it went on sale last month. Subsequent reports indicated Apple was struggling to meet demand for the iPad 2. The company sold nearly 15 million iPads
in 2010. Read more here.
Update: During Apple's conference call, COO Tim Cook said the company sold every
iPad 2 it had available in the quarter and that it remains "heavily backlogged." But he expressed confidence the company would be able to meet demand soon and said the Japan earthquake had no impact
on cost or supply. Apple didn't comment on rumors release of the next iPhone would be pushed back beyond early summer. When it comes to the status of Apple CEO Steve Jobs, currently out on sick
leave, Cook said he continues to be involved in major company decisions and "we do see him on a regular basis."