Apple makes $45bn in three months amid healthy iPhone sales – The Independent


Apple had a strong fiscal third-quarter, beating analyst estimates for earnings per share and revenue as iPhone sales remained healthy.

Apple announced revenue of $45.4bn (£34.4bn) and earnings of $1.67 (£1.26) per share, compared to the year-ago quarter of $42.4bn (£32.1) and $1.42 (£1.08), respectively.

Analysts had anticipated revenue of $44.9bn (£34.0) and earnings of $1.57 (£1.19) for the quarter.

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Apple to get rid of the iPhone's iconic home button

Apple’s shares surged more than 5 per cent to a record $157.79 (£119.47) in after-hours trading on Tuesday following the company’s release of its third-quarter results.

The company is said to be planning to launch a 10th anniversary iPhone in September that is expected to have higher-resolution OLED displays along with better touchscreen technology and wireless charging – all of which could come with a $1,000-plus price tag.

During a call discussing the earnings, Apple chief executive Tim Cook said Apple would have “very exciting fall [autumn]".

In pictures: Apple iPhone 7 launch event

In pictures: Apple iPhone 7 launch event

  • 1/13 Apple iPhone 7 launch event

    Apple Inc CEO Tim Cook discusses the new phone

  • 2/13 Apple iPhone 7 launch event

    It looks similar to the 6 and 6s. Apple say it is the "most singular, most evolved representation of this design".

  • 3/13 Apple iPhone 7 launch event

    The iPhone has become a "cultural phenomenon". Over one billion handsets have been sold.

  • 4/13 Apple iPhone 7 launch event

    There's a new refined design for the iPhone 7. A high gloss finish and a seamless surface between the glass and the aluminium back.

  • 5/13 Apple iPhone 7 launch event

    The new enclosure is water and dust resistant.

  • 6/13 Apple iPhone 7 launch event

    It does seem to look a lot like the iPhone 6s. The big changes are slightly rounded edges, the loss of antenna lines, and what looks like a very glossy black colour.

  • 7/13 Apple iPhone 7 launch event

    Apple Inc CEO Tim Cook discusses the App Store.

  • 8/13 Apple iPhone 7 launch event

    Apple Inc CEO Tim Cook discusses Apple in education.

  • 9/13 Apple iPhone 7 launch event

    Apple Inc CEO Tim Cook greets Nintendo Creative Fellow Shigeru Miyamoto.

  • 10/13 Apple iPhone 7 launch event

    Nintendo Creative Fellow Shigeru Miyamoto announces a Mario Bros game for the iPhone, as a translator stands nearby.

  • 11/13 Apple iPhone 7 launch event

    Apple CEO Tim Cook speaks during the Apple launch event at the Bill Graham Civic Auditorium in San Francisco, California, USA.

  • 12/13 Apple iPhone 7 launch event

    The new Watch has a new display that's twice as bright as the existing one. It's brighter than any other Apple screen ever.

  • 13/13 Apple iPhone 7 launch event

    Apple Watch "series 2", as it's called, is waterproof up to 50 metres.

“We hosted an incredibly successful Worldwide Developers Conference (WWDC) in June, and we’re very excited about the advances in iOS, macOS, watchOS and tvOS coming this fall,” Mr Cook said in a statement.

Apple sold about 41 million iPhones during its third-quarter, slightly higher than the 40 million it sold during its third-quarter last year.

"The smart phone is becoming even more important to people because it's going across so much of your life and you can tell by some of the things we did at WWDC that that will only continue," he told CNBC's Josh Lipton.

One troubling area in Apple’s earnings performance was in China, where sales were down 10 per cent year-over-year.

Greater China – a region that includes Taiwan and Hong Kong – is now Apple's second-biggest market, but it was also the only one of Apple's regions to report a decline in sales in the first half of the fiscal year.

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