Apple Beat Third Quarter Expectations, as Phone Sales Barely Grew

30 August, 2018, 20:40 | Author: Shawn Conner
  • Apple iPhone X

Huawei took that spot, research firm IDC said Tuesday, with 54.2 million phones versus Apple's 41.3 million. Much of Apple's supply chain is in China, and the mainland country accounts for the company's second-largest source of revenue, according to FactSet, behind only the U.S.

Apple said sales increased 17% to $53.3 billion overall in its fiscal third quarter, the three month period through the end of June.

Shares in the Silicon Valley-based technology titan rose 4.03 per cent to $US197.95 in after-hours trade that followed release of the earnings figures. CEO Tim Cook said that while the company's products hadn't been hurt by tariffs imposed so far, Apple is still examining the impact of proposed USA tariffs on $200 billion worth of Chinese goods.

Cook said the number of people using Apple devices is surging, and that promised to keep fuelling the strong growth seen at its streaming music, digital wallet, and App Store. There is an inescapable mutuality with the USA and China which serves as a magnet bringing them together: "each can only prosper if the other does".

That said, the average selling price of iPhones jumped in the quarter as buyers opted for top-of-the-line X and 8 models, according to Apple.

Cook also said he wasn't fazed at the maturity of the smartphone market, which IDC said shrank 2 percent 342 million units in the quarter. But by hiking prices previous year and introducing the new $1,000 iPhone X, Apple's iPhone revenue jumped 20% to $29.9 billion.

That suggests that more consumers were buying its premium iPhone X, which starts at $999.

[Match Highlights] Arsenal 3-1 West Ham - All The Goals And Highlights
"It's a relationship; Emery is trying to work out a system, and how he changes Arsenal to make them successful". He left training because he was going home. "We just need time to adapt to Emery's football".

Apple has repeatedly highlighted the growing amount of money it is taking in from music, applications, games, subscriptions and services it sells to people using its devices.

Apple Inc updated its latest share count on Wednesday, putting the magic stock price at $207.04 that would make the iPhone maker the first publicly listed US company valued at $1 trillion.

Apple also reported a 37 percent increase, to $3.7 billion, in the division for miscellaneous hardware, including Apple Watch and the HomePod smart speaker.

Apple posted $9.55 billion in services revenue for the third quarter - a jump of 28 percent from the year-ago quarter excluding a favorable one-time item.

Cupertino, California-based Apple said net income rose 32 percent to $11.52 billion, or $2.34 per share, beating the $2.17 expected by analysts.

Forward-looking guidance: Apple guided toward fourth-quarter revenue between $60 billion and $62 billion, edging out Wall Street predictions of $59.47 billion, according to StreetAccount.

Recommended:



Popular

John McCain's casket is carried into Arizona State Capitol
McCain also adopted the two children of his first wife, Carol, and had a daughter, Sidney, with her, as well. Instead of talking politics, he says they talked about their love of classic rock and music in general.

'God was with these guys': Tampa man recovering after Jacksonville mass shooting
The couple said their thoughts are with the victims and their families, but also with the larger issue of gun control. Elijah Clayton Black, 22, and 28-year-old Taylor Robertson were killed, and 13 others were injured in the shooting.

Donald Trump Won't Attend John McCain's Funeral, Says US Senator's Spokesman
So, the White House didn't break the rules, as Mr McCain died on Saturday and the flag was raised to its full height on Monday. Flags at the White House were lowered to half-staff over the weekend in McCain's honor, but back at full-staff on Monday.

Tesla chief Elon Musk unlikely to escape SEC scrutiny
Well, if you recall, the company's CEO Elon Musk has been stirring the Tesla pot lately. Coffee noted that the SEC may feel as though these disclosures were deficient.

US cardinals defend themselves over cover-up storm
He said on Saturday that the corruption and cover-up of abuse amounted to human excrement, according to victims. Archbishop Vigano claimed that then-Pope Benedict imposed unannounced sanctions on Cardinal McCarrick.

Harry Kane hails 'massive' Tottenham Hotspur win at Old Trafford
Moreover, whereas Mourinho used to staunchly defend his players, at United he has routinely criticised his squad in public. Shortly after halftime, Spurs punished some feeble defending. "We worked very well during the week", he told reporters.

Feds 'encouraged' by signs of potential U.S.-Mexico deal on NAFTA
Canada and the USA are both on the eve of contentious mid-term elections, which could affect the timeline of the negotiations. They will now likely re-engage with Canada to reach a final deal on NAFTA , a primary goal of the Trump administration .

Minutes of Explosive Cyberpunk 2077 Gameplay Revealed
This news leads me to believe that the team has been working diligently even during the development of The Witcher: Wild Hunt . Since then Connor has come to love all things nerd culture, with a passion for Playstation, third-person shooters, and JRPGs.

Flags at White House back at full staff after McCain's death
The federal code states that the flag shall be lowered on the day of death and the following day for a sitting member of Congress. Even after Congress adopted the code on Flag Day June 14, 1923 they have become akin to guidelines and can not elicit punishment.

Maryland leaders react to the death of John McCain
House of Representatives also mourned McCain: "He was a patriotic, courageous hero who served his country above all". Senator John McCain passed away Saturday after battling brain cancer , according to a statement from his office.