Published: Wed, August 02, 2017
Science | By Hubert Green

IPhone sales up in Q3 despite iPhone 8 promises

IPhone sales up in Q3 despite iPhone 8 promises

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. In Apple's earnings report, CEO Tim Cook said the iPad was also performing well in China.

In September, Apple is expected the launch the next version of the iPhone, with up to three new devices rumoured to be on the way.

Apple's China sales, which have been closely scrutinized of late, totaled $8 billion in the quarter, down 25% from the prior quarter and 10% from the prior year.

Compared to the company's third fiscal quarter 2016, this year's Q3 saw a big increase in iPad sales at 11.42 million units versus last year's 9.95 million; Mac sales also increased year-on-year, but very slightly at 4.292 million versus last year's 4.252 million.

The tech giant beat expectations for both revenue and profit, reporting earnings per share of $1.67 on $45.4 billion (roughly Rs. 2,91,161 crores) in revenue. Revenue jumped from $5.976 billion to $7.266 billion.

Apple shares rose more than 5 percent in after-hours trading following release of the results.

For example, sales of the iPad range - which has been refreshed with a new Pro model - and better software - has grown for the first time in more than three years.

Apple is seeking to diversify its product line with the Apple Watch, digital content and other services but the iPhone accounted for more than 60 per cent of revenue in the past quarter.

The company's revenue went up 7 percent year over year, marking the third consecutive quarter of accelerating growth, along with an all-time quarterly record for revenue in the services sector.

"Overall, these were satisfying results for Apple", said Clement Thibault, senior analyst at Investing.com.

Apple (AAPL - Free Report) just released its third-quarter fiscal 2017 earnings data.

"The company provided guidance for the September quarter which essentially guarantees new iPhone hardware in September", Jackdaw Research analyst Jan Dawson wrote.

"Investor focus over the next two quarters should be on the iPhone 8 cycle", KeyBanc Capital Markets analysts said in a note to investors earlier this month. Services sales rose 22% year over year and 3% sequentially to $7.27 billion.

Cook says company was only following the law when removing VPNs from the Chinese app store.

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