IPhone sales lift tech giant Apple to record revenue in past quarter

01 February, 2017, 11:20 | Author: Alicia Barber
  • Chart of the day: Apple shares slide ahead of earnings

The Cupertino-based company saw revenue for the quarter increase to $78.4 billion, a rise of nearly $3bn from the quarter before.

As for other products in Apple's lineup, iPad and Mac sales checked in at 13.1 million and 5.37 million units, respectively.

Apple chief executive Tim Cook said demand was especially high for the larger iPhone 7 Plus in the holidays-dominated period, which includes US Thanksgiving and Christmas. Apple had guided for sales of $76 billion to $78 billion in the December quarter, which implied earnings of about $3.17 per share. Wall Street is expecting average selling prices (ASPs) to drop to $687 per phone from $735 per phone in the prior year.

Apple also registered revenues of $7.2 billion for its services business, marking an impressive 18 percent year-over-year growth compared to last year's (which was at $6.1 billion). The stock, however, gained $3.40 or 2.80% in the after-hours trade.

Injuries, suspensions and line-up vs West Ham
Hart would be a marque signing for West Ham, who continue to try and progress the club following the move to the London Stadium . "He is one of the nicest guys I've ever met and when you are one of the nicest guys off the pitch, you are on the pitch".

Apple sold 78.29 million iPhone units during holiday season quarter, generating $54.38 billion in revenues, helping to stop three consecutive quarters of iPhone sales and revenue declines. Analysts hope the upcoming "iPhone 8", the 10th anniversary device, will propel Apple to its best year. Worldwide, smartphone profits reached $9.4 billion during the third quarter of the year - 91% of which went to Apple - according to recent findings from Strategy Analytics. The actual result is an "all-time record", Apple said in a statement. Also, the rumor mill has been swirling like insane lately, as analysts and Apple insiders are predicting that 2017 will be a big year for the iPad.

A big focus will be on Apple's iPhone sales, which represent the majority of the company's revenue.

Revenue from Apple's services businesses, like iTunes and AppleCare, continued to jump in the quarter, up 18 percent to $7.2 billion. The revenue was largely in line with analysts' expectations for $4.07 billion. He also cited how iOS mobile users have made $3 billion worth of purchases from the App Store in December alone, making it the best single month sales performance ever for the online store.

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