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Surprise: iPad sales up 15% as Apple’s results beat expectations

Apple this afternoon reported iPad sales of more than 11.4 million units for the quarter ended July 1, a 15 percent increase that bucked the trend of declining sales for the company’s iconic tablet. Apple released a new 10.5 inch version of the iPad Pro in June, likely contributing to the increase.

For the quarter, iPhone sales were up 2 percent to 41 million units, and Mac sales rose 1 percent to just under 4.3 million.

The company overall posted quarterly revenue of $45.4 billion, an increase of 7 percent, and earnings per share of $1.67, beating Wall Street’s estimates on both measures. Analysts polled in advance expected the company to report earnings of $1.57/share on revenue of $44.89 billion.

Apple shares are up more than 5 percent in after-hours trading.

The company’s conference call with analysts and investors is under way now.

Source: Geekwire Apple

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