Apple handily beat analyst expectations for its September quarter, as the tech giant reported sales of 39.3 million iPhones -- and Wall Street anticipating an even bigger surge for the smartphone business during the 2014 holiday shopping season.
The company posted revenue of $42.1 billion and earnings per share of $1.42 for fiscal fourth quarter of 2014, which ended in late September. Financial analysts' consensus estimates for the period were $39.9 billion in revenue and $1.30 per share in earnings.
In the most recent quarter, Apple bowed two new larger-size smartphone models -- the iPhone 6 and 6 Plus -- and the company boasted a record 10 million units sold the first weekend they went on sale in mid-September.
Analysts expect Apple to deliver record-breaking iPhone sales in the current quarter, given that the new models were available during only two weeks of its fiscal Q4 and weren't available in all international markets.
In the December quarter, Apple could sell 73 million to 75 million iPhones worldwide, according to Rosenblatt Securities' Brian Blair estimates; others were more conservative, with Piper Jaffray's Gene Munster forecasting between 56.7 million and 62.7 million unit sales. Apple scored its biggest quarter for iPhone sales in the three months ended Dec. 28, 2013, when it sold 51 million smartphones.
Last week, Apple unveiled two new iPad tablets -- the iPad Air 2 and iPad Mini 3 -- which went on sale online Oct. 17.
Meanwhile, the Apple Pay mobile-payment service went live Monday in the U.S. via the iOS 8.1 update. Apple Pay supports credit and debit cards from American Express, MasterCard and Visa issued by major banks, with multiple retailers opting into the service.
© 2014 Variety Media, LLC, a subsidiary of Penske Business Media; Distributed by Tribune Content Agency, LLC
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