Apple reported another massively successful quarter, as the company's fiscal Q4 results were announced for the quarter ending September 29. Apple posted Q4 revenue of $36 billion, up from $28.3 billion a year ago. Net profit reached $8.2 billion, up from $6.6 billion in its fiscal Q4 a year ago.
Apple sold 26.9 million iPhones in fiscal Q4, a 58 percent increase from a year earlier, as well as 14 million iPads, a 26 percent increase. The company also sold 5.3 million iPods, a 19 percent decline from a year earlier, as Apple continues to move users towards the iPhone as a music device.
"We’re very proud to end a fantastic fiscal year with record September quarter results," said Tim Cook, Apple’s CEO. "We’re entering this holiday season with the best iPhone, iPad, Mac and iPod products ever, and we remain very confident in our new product pipeline."
However, despite another impressive financial report, Apple did not meet Wall Street's lofty expectations. Apple stock dropped below $600/share for the first time in three months following its fiscal Q4 report, as the company warned that its holiday quarterly profits would not equal those of a year ago. Apple told investors its profits for the last three months of 2012 would dip because it will be launching so many new products, which are more expensive to manufacture.