Apple has announced a 48% fall in profits during Q3. The company posted profits of $32 million for the quarter. Apple generated revenues of $1.43 billion in Q3. This figure represents a fall of 3% in company revenues from the corresponding period last year. Apple blames poor sales in the European market and weak sales in the advertising and publishing industries for the results.
The company’s financial results were in line with the revised expectations that Apple released in a profit warning issued earlier this year. Apple has also warned that the company results for this quarter are likely to be worse than analyst’s expectations. The company refused to give any specific forecasts.
Apple CEO Steve Jobs remained positive despite the company’s disappointing financial results. In a statement Jobs highlighted that Apple still remains profitable and continues to develop innovative products.
