A recent study by SNL's research group focuses on revenues and net incomes of media companies. The iPhone (News - Alert) maker Apple, Inc. took the top spot in third quarter (3Q) operating revenues and net income. Despite growth in overall revenues and net income, the research company’s top 25 media companies report indicates that 3Q revenues declined as compared to the second quarter (2Q) 2011. The new iPhones also propelled Apple’s (News 
- Alert) performance in the fourth quarter (4Q). But, delays in the release of iPhone 5 are hurting Apple’s iPhone sales in the first quarter of 2012, according to SNL.
As per this report, Apple's 3Q revenues were $28.27 billion with a net income of $6.62 billion. Apple’s revenues are far better than competitors in the market, said SNL. As a result, Apple reported 39.0 percent revenue growth and 53.7 percent income growth year over year. However, these numbers represent a sequential decline when compared to performance in the second quarter. SNL’s study shows that in the previous quarter Apple recorded $28.57 billion in revenue, an 82 percent increase year over year, and $7.31 billion in income, a 124.7 percent increase from the prior-year quarter.
In an earning call in October, Apple’s new CEO Tim Cook said that he believes that the disappointing revenue and profits were a direct result of consumers holding out for the next version of the iPhone. Thus, creating a natural depression in sales for the quarter, which ended just days before Apple unveiled the unexpected iPhone 4S... Read More
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