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frozenmail.net 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.

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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.



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