August 21, 2017

Hero iPad steers Apple to surprisingly strong results

03 August 2017, 01:12 | Virginia Santiago

Hero iPad steers Apple to surprisingly strong results

Hero iPad steers Apple to surprisingly strong results

According to the company's latest quarterly earnings report, Apple expects revenues between $49bn and $52bn for the final quarter of the year, when the new iPhone is expected to be released.

Overall though, a good quarter for Apple, especially considering services revenue hit an all-time quarterly high.

Apple's Services unit had sales of almost $7.3bn during the three months to the end of June, a rise of 22% higher on the same period previous year.

Analysts had been modeling $44.89 billion and $1.57 per share in net income. For the quarter, the technology giant posted quarterly diluted earnings per share (EPS) of $1.67 on revenues of $45.4 billion.

But more importantly, its forecast for the current September quarter - when the next, big iPhone launch is expected - is strong.

The 41 million iPhones sold was a slight increase from a year ago, when Apple moved more than a little more than 40 million handsets.

Allow special counsel to finish essential job
If Mueller is fired, Republicans will quickly distance themselves from Trump , something they should have done long ago. Trump told The New York Times that if Mueller looks at anything involving his business dealings, "that's a violation ".

The growth came thanks in part to product debuts at the company's Worldwide Developers Conference (WWDC) in June, which should "extend [Apple's] competitive lead this fall and well into the future", CEO Tim Cook said during the quarterly earnings call on Tuesday.

Apple's iPhone sales accounted for 54.7% of total revenue in the third quarter, making it by far the company's largest business.

iPad sales on the other hand are up 1.9 percent to $4.97 billion or 14.85 percent to 11.4 million units sold.

The Company posted quarterly revenue of $45.4bn up seven per cent year on year, global sales accounted for 61 percent of the quarter's revenue. Service revenues, which cover everything from the App Store to Apple Pay, reached a record $7.3 billion (up from $6 billion). This category includes Apple TV, Apple Watch, Beats products, iPod, and Apple-branded and third-party accessories. Revenue in Greater China declined 10 percent year over year to $8 billion. It's hard to say whether these guidance predictions indicate that the flagship OLED iPhone 8 will ship in September, or if Apple believes the 7s models (iterative updates to iPhone 7 and iPhone 7 Plus) will drive revenue.

In after-hours trading, Apple's stock jumped about 5 percent on the news.

This would mark Apple's biggest iPhone refresh since the iPhone 6 was released in 2016, with the potential to trigger a big wave of upgrades and new purchases.

Other News

Trending Now

Arsene Wenger says Alexis Sanchez is staying at Arsenal
Speaking to 24 Horas in Chile, Bravo is quoted as saying today, "If he decides to go, we'll wait for him with open arms at City". In the early game, Leipzig beat Benfica 2-0 thanks to goals from Marcel Halstenberg and Marvin Compper.

Kit Harington talks about Jon Snow and Daenerys first meeting
Game of Thrones continues Sundays in the United States on HBO and Mondays in the UK on Sky Atlantic. Oh Game Of Thrones , you're killing us, with episode after jaw-dropping episode.

Breastfeeding can boost economies and save children's lives
During breastfeeding, antibodies and other germ-fighting factors pass from a mother to her baby and strengthen the immune system. By six months, only 34% of UK babies are receiving any breast milk, compared with 49% in the United States and 71% in Norway.

US Senate Too Divided to Keep Pushing for Healthcare, Senator Says
Also, HHS Secretary Tom Price said he is considering weakening the individual mandate by expanding waivers. A bipartisan group of 43 House members, including New Jersey Reps. "We had a productive meeting".

Taoiseach Criticises Trump's Plan To Ban Transgender Military Personnel
As if he doesn't have enough controversy to contend with, President Donald Trump created yet another distraction last week. It also found that countries such as Canada and the United Kingdom saw no effect on military readiness .

Lawsuit: Fox coordinated with White House on false story
Spicer, Wheeler claimed, reviewed his "investigative notes" at the meeting and "asked to be kept abreast of developments". What do you think of Wheeler's lawsuit? DAVID FOLKENFLIK: Well, they dispute hotly the idea that they defamed Wheeler.

LGBT Advocacy Groups Talk Trump Transgender Ban
Trump's stated goal is to prevent disorder among the ranks. "It's unjust and disruptive to strip that away from them now". That includes Erika Stoltz of Sun Prairie, whom State Journal reporter Steven Verburg profiled in Friday's newspaper .

Cooper: Bipartisan health bill not on horizon
A vote on the bill is expected after midnight, and then lawmakers could offer amendments to the legislation. In response، Trump on Friday again suggested his administration would let the Obamacare program "implode".

USA nuclear reactor project collapses
Westinghouse filed for bankruptcy March 29, overwhelmed by the cost overruns on two reactors at the V.C. Fluor Corp., a contractor that Scana had previously said was capable of taking over the V.C.

England in box seat v Sth Africa 3rd Test
Philander managed only five overs and, when South Africa turned to their change bowling, Stokes tucked in with drives and pulls. Stokes ensured his early hard work and former captain Alastair Cook's innings of 88 did not go to waste.