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Apple Rings In Higher Earnings On iPhone Sales
03 August 2017, 01:12 | Lionel James
Tim Cook says Apple is working on a 'large project' around autonomous systems
"We reported unit and revenue growth in all our product categories in the JUNE quarter, driving 17% growth in earnings per share", CFO LUCA MAESTRIsaid.
Apple'sServices 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 past year.
The earnings report comes ahead of what will be a pivotal quarter for Apple as the company reportedly gears up to launch a new iPhone.
Mac sales remained strong, and iPad sales returned to growth during Apple's most recent quarter, helping to propel the company as buyers await a major iPhone launch this fall. There are reports Apple could launch three iPhone models, with one expected to have a four-digit price tag.
The tech giant sold 41m iPhones during the quarter and 11.4m iPads, a 15 per cent increase on the same period past year.
The company reported third-quarter earnings today (its fiscal year ends in September) that came in at the top of its guidance, generating $45.4 billion in revenue, a gain of 7% over the same quarter last year.
Applesold 41 million iPhones during the quarter, plus the company reduced inventory by more than 3 million units. On the back of the new 10.5-inch iPad Pro released at WWDC in June, Apple moved 11.4 million tablets, its biggest non-holiday quarter for the tablet in more than two years.
Leading the way was Apple'siPad sales, which were up 15 percent from past year.
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Apple'sservices continue to grow, seeing a 22% increase year-over-year.
Other products - including Apple TV, Apple Watch, and Beats products - generated $2.74 billion, up 23.3%.
How much has the iPhonerumor mill hurt Apple's sales?
The iPhone maker announced revenue for the last quarter of 45.4 billion dollars (£34.4 billion), up on the 42.4 billion dollars (£32.1 billion) posted a year ago. That usually results in iPhone demand tapering in the months before a release.
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