iPhone Sales Fall Short of Market Expectation; Apple Net Profit $26.5 Billion Through Q3

The most valuable IT company in the world, Apple Inc. witnessed a steady 85 percent rise in its full year results, the iPhone maker proudly announced.

According to the company’s evaluation, net profits ending September 24th touched the $25.6 billion mark. But, not all was healthy - Apple’s shares fell almost by 5 percent after a fourth-quarter-decline in sales of the iPhone in comparison to what the market had anticipated earlier.

The decline in sales figures, however, occurred before the company rolled out the iPhone 4S model. Overall, revenues for the final quarter of the previous fiscal year stood at $28.27 billion.

The amount was $1 billion short of what Wall Street had forecasted earlier. It is worth noting that this was the first time in 3 years Apple could not live up to analysts expectation in terms of sales figures.

“We're thrilled to be shipping the new iPhone 4S... and we're very confident that we will set an all-time record in the December quarter for iPhone sales,” said , CEO of Apple, Tim Cook on an optimistic note, as reported by BBC News.