Initial iPhone Sales Good, But Not as Good as Some Thought

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Apple has announced how many iPhones it sold on the first two days this smartphone was available. And while this number is high, it doesn’t seem likely sales met the very high estimates some analysts had given for sales during the first three days.

Included with the statement of the results of its most recent financial quarter was how many iPhones Apple sold during this period. The product debuted on June 29, and Apple’s quarter ended June 30, so it is only willing to say how many iPhones were sold during the first 36 hours it was on the market.

The total for these days was 270,000, which — though easily enough to give the iPhone one of the strongest launches ever for a smartphone — isn’t as high as some were expecting.

Earlier, analysts had estimated that Apple sold somewhere between 500,000 and 700,000 iPhone during the first three days it was available (Friday through Sunday). Today’s announcement only covers the first two days, but it’s unlikely that sales on the third day were strong enough to reach the estimates.

1,000,000? Not Yet

Along with its quarterly earnings, some had hoped Apple would announce it has already sold a million iPhones. Instead, CEO Steve Jobs said in a statement, "We hope to sell our one-millionth iPhone by the end of its first full quarter of sales."

The company has not revealed how many of these smartphones have been sold after the first two days.

AT&T, the only wireless carrier offering the iPhone, has been equally upbeat, but also equally vague. Richard G. Lindner, AT&T’s chief financial officer, said Tuesday that sales of this smartphone "continue to be strong in July with store traffic above historical levels."

Financial Results

Apple took in $5.41 billion during its last financial quarter, and had a net profit of $818 million, or 92 cents per share. This compares to revenue of $4.37 billion and net profit of $472 million, or 54 cents per share, in the year-ago quarter.

Investors seem to have looked at Apple’s other results, including a new company record for the number of Macintosh computers sold, and pushed up the price of Apple’s shares 9.4% in after-hours trading.

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