In second quarter, Apple's iPhone sales rise as iPad sales fall

Today, Apple announced its results for second quarter 2014 -- which saw revenues of $45.6 billion and net profit of $10.2 billion for that period, a jump from revenue of $43.6 billion and net profit of $9.5 billion year-over-year. iPhone sales jumped up 17 percent year over year, to 43.7 million. On the other hand, iPad sales slipped 16 percent, to 16.35 million for the same period. As reported by Re/code, CEO Tim Cook said on the company's earnings call that this can be attributed to reduced inventory and a lack of "a substantial backlog of iPad mini demand" this year as compared to last year. Notably, iTunes software and services revenues jumped up 11 percent in terms of revenue year-over-year, too -- some unspecified slice of that, of course, is games. And while the company has yet to release a version of its Apple TV device that can natively play games, it's becoming more important to the company. The company has sold "about 20 million" devices so far, Re/code reports, and when questioned about it, Cook highlighted its increased success as a content-delivery device. Of course, it now faces competition from Amazon's Fire TV -- which supports games via a dedicated PlayStation-style controller as well as games made by an in-house studio.