Apple posted iys outcomes for the third quarter of this 12 months, beating Wall Road expectations and sending the fill up 6% in after-hours buying and selling. Income for the quarter grew 7%, earnings went up 17%. The Companies division hit an all-time excessive income, Tim Cook dinner says that the division alone might be a Fortune 100 firm.
Additionally, iPads have bounced again after over 3 years of declining gross sales, the iOS tablets offered 14% extra models. Nonetheless, in financial phrases gross sales went up solely 2%, suggesting that the cheaper $329 iPad is chargeable for an enormous chunk of the brand new gross sales. A complete of 11.42 million iPads we offered.
The iPhone, Apples core product, offered 41 million models up 1%, however barely beneath expectations of 41.1 million. Cook dinner did warn that there shall be a pause in iPhone gross sales as the brand new fashions arrive within the fall, together with the anniversary iPhone 8.
Apple additionally used the event to announce that it has offered over 1.2 billion (!) iPhones because it launched the unique one 10 years in the past.
As for the remaining, Apple Watch gross sales went up by a stable 50% within the quarter whereas Mac gross sales had been flat. 3 in 4 Apple Pay transactions had been carried out exterior the US, a powerful worldwide presence.
Apple has a $1 billion fund invested in Corning, suggesting a return to Gorilla Glass (and a parting of how with ion-strengthened glass).
Lastly, the money: the Q3 income was $45.4 billion vs. expectations of $44.95 billion. The steering for the following quarter income is $49-$52 billion (bullish in comparison with the analyst consensus of $49.21 billion). iPhone gross sales in China declined, nevertheless.