Monday, 24 September, 2018


Pricier iPhones Lead Apple to Beat Earnings Expectations

Apple iPhone X Apple will report earnings on Tuesday Credit Getty
Conrad Doyle | 01 August, 2018, 08:55

That beat the $2.17 per share expected by 10 analysts surveyed by Zacks Investment Research.

But on second glance, Apple's numbers tell an interesting story. iPhone sales were barely up compared to the same quarter past year, and at 41.3 million units sold, the analyst expectation of 41.79 million units was actually missed. Apple (NASDAQ:AAPL) sold a total of 41.3 million iPhone units, but the projected amount was 41.6 million units.

Sales of the iPhone were up 20% at $29.9 billion, driven by the range-topping iPhone X, which starts at $999.

Apple's revenue gains mark the company's best June quarter ever, according to CEO Tim Cook, noting that it's the fourth consecutive quarter of double-digit revenue growth.

The average iPhone now sells for $724. Its mobile unit reported a 22 percent drop in sales revenue to $20.2 billion from the same time a year ago.

Apple historically has kept its prices steady, and kept its new premium phones at a premium price.

Apple is expected to release three new iPhone models, including a less-expensive version that will feature the edge-to-edge display and Face ID technology made popular by the iPhone X.

Apple's increasingly important Services segment saw revenue of $9.5 billion, up 31% versus $7.2 billion during the same quarter a year ago.

The services business also registered sequential growth of 4 percent further proving Apple's strong play in the software and services business. The forecast is a measure of how well Apple thinks it can fare in a market where consumer interest in having the latest and greatest continues to wane. This segment includes Apple Music, App Store sales as well as Apple Care and iCloud subscriptions.

The Cupertino, California-based technology giant expects fiscal fourth-quarter revenue between US$60 billion and US$62 billion.

The Other Products division, home to the Apple Watch, AirPods, and the HomePod, took in $3.7 billion in revenue, up a whopping 37% year-on-year. All Cook would say is that Apple "couldn't be more excited by the products and services in our pipeline". Mac unit sales were down 13% year over year and Mac revenue was down 5%. Apple also regained growth in China, where sales rose 19 per cent.

Apple, which makes about 56 percent of its revenue from the iPhone, has had to deal with slowing sales growth for its biggest product.

What's propelled Apple's June earnings high and its ability to defy the challenges faced by rival tech stocks this quarter? iPhone revenue was higher than estimated. Cook did not mention India during the earnings call, indicating its declining prospects in the world's fastest growing smartphone market. The guidance suggests that the new iPhones will be available for shipping a week after its launch.

Recommended

loading...
...
  • 15-year-old severely burned in hot water viral challenge

    15-year-old severely burned in hot water viral challenge

    It also involves people posting to social media videos of themselves performing the challenge on an unsuspecting person. The Hot Water Challenge, which has been around for years, claimed a new victim in a 15-year-old teenager from Indiana .

    North Korea Might Be Working On New ICBMs

    But Pompeo told lawmakers that ongoing talks with North Korea were "verifiable evidence" of movement toward denuclearization. Add North Korea as an interest to stay up to date on the latest North Korea news, video, and analysis from ABC News.
    Demi Lovato forgot lyrics to 'Sober' days before alleged overdose!

    Demi Lovato forgot lyrics to 'Sober' days before alleged overdose!

    She explored her battles with alcohol and drug addiction in her documentary titled Simply Complicated released previous year . She has said she's used cocaine before interviews and drank alcohol in the morning out of a soda bottle to mask it.
  • Kendall Jenner Jokingly Expresses Concern Over Kim Kardashian's Thin Figure

    Kendall Jenner Jokingly Expresses Concern Over Kim Kardashian's Thin Figure

    This article discusses anorexia, body image and eating disorders . "You know, he's done something fantastic ", she said. Keeping Up with the Kardashians airs on E!.

    Trump says he's willing to meet Iran's leader without preconditions

    Since then, Tehran's clerical establishment has been under increasing USA pressure and the prospect of renewed sanctions. Iran's leaders are facing rampant unemployment, high inflation and a currency weakening at a historic pace .
    Thieves steal shark using baby stroller

    Thieves steal shark using baby stroller

    We have been working closely with Leon Valley and San Antonio police departments to recover the animal and apprehend the suspects. A group of "well-trained" thieves stole a shark from the San Antonio aquarium in a stroller - and are still on the lam.
  • Trump didn't know about campaigners' Russian Federation  link, says Giuliani

    Trump didn't know about campaigners' Russian Federation link, says Giuliani

    Trump wrote on Twitter. "My client didn't do it, and even if he did it, it's not a crime", Giuliani said. In a later interview on CNN , Giuliani again said that collusion was not a crime.

    Isner reaches Atlanta Open semifinals for 9th straight year

    Mayer will next meet Slovakian qualifier Jozef Kovalik, who fended off Brazilian Thiago Monteiro 3-6, 6-3, 6-2 earlier in the day. After reaching the Wimbledon semis earlier this month, Isner is looking for his fifth title at Atlanta.
    WhatsApp rolls out group video and voice calling

    WhatsApp rolls out group video and voice calling

    Back in May, Facebook held its F8 developers conference where it announced new features for its Facebook family of apps. The company also claims that group calls are end-to-end encrypted and are created to work on different networks.
  • Florida man struck by vehicle  while attempting 'In My Feelings' challenge

    Florida man struck by vehicle while attempting 'In My Feelings' challenge

    If you're not familiar, it's where someone gets out of their vehicle and dances in the street to DRAKE's " In My Feelings ". The challenge requires the performer to dance along with a moving vehicle and then jump back into the auto .
    David Luiz pledges his future to Chelsea after season in virtual exile

    David Luiz pledges his future to Chelsea after season in virtual exile

    The Italian midfielder has quickly impressed and is expected to star alongside N'Golo Kante is the heart of Chelsea's midfield. Sarri wants to beef up the midfield this season.What's the rumour? Chelsea FC have also signed Rob Green so far this summer.
    Astronauts Capture The Blood Moon From Space, And The Photos Are Breathtaking

    Astronauts Capture The Blood Moon From Space, And The Photos Are Breathtaking

    It will be on the intervening night of July 27 and 28 with a duration of 1 hour and 43 minutes, making it the longest one. The moon is set to turn red on Friday in the longest total lunar eclipse of the 21st century , visible across Europe.

Trump says U.S. ready to tax all Chinese imports should need arise Trump says U.S.  ready to tax all Chinese imports should need arise There is now a sense that China may have declared victory too early while the USA may have reacted too late in the day. The main criticism that the USA makes against China centers around the trade deficit America runs with China.

'HUNGRY 4 SUCCESS' sign lands homeless Texas native over 200 job offers 'HUNGRY 4 SUCCESS' sign lands homeless Texas native over 200 job offers Casarez did not indicate what he plans to do with all of the offers, but said he'll be back sleeping on his bench tonight. David Casarez , a homeless web developer, came up with a unique, yet very direct way to lift himself out of poverty.

Philadelphia Phillies acquire IF Asdrubal Cabrera from New York Mets Philadelphia Phillies acquire IF Asdrubal Cabrera from New York Mets Though he's played 90 games at second base and once as a DH this season, shortstop is not an unfamiliar position for him. The-32-year-old will bat fifth and play shortstop when the Phillies face the Cincinnati Reds at Great American Ballpark.

Video of tourists killed in Tajikistan shows 'deliberate attack' Security forces killed four suspected attackers on Monday and detained one. The Pamir highway is said to be the second highest road on earth.

British lawmakers urge tougher rules for Facebook, Twitter British lawmakers urge tougher rules for Facebook, Twitter Collins and his cross-party committee have spent the last 18 months investigating the phenomenon of "fake news". In the report, the committee said misinformation and fake news is threatening democracy.

Nationals GM shoots down reports of possible Bryce Harper trade Nationals GM shoots down reports of possible Bryce Harper trade With Harper and other free agents coming off the books next year, this team's payroll could plummet to $140 million or beyond. It shouldn't matter that Philadelphia is in the same division considering where the Nationals are this year.

Priyanka Chopra wins Nick Jonas’ heart and major role in his single? Priyanka Chopra wins Nick Jonas’ heart and major role in his single? The mega-budget movie is now in pre-production and Universal is eyeing a June 28, 2019 release, reports THR. However, in Bollywood, she will soon be seen alongside Farhan Akhtar and Zaira Wasim in The Sky Is Pink .

Mourinho hopeful Manchester United will sign one more player Mourinho hopeful Manchester United will sign one more player The organiser of the International Champions Cup says he understands Jose Mourinho's criticism of the pre-season competition.

Koch Group Declines to Back Republican Cramer in North Dakota Senate Race Koch Group Declines to Back Republican Cramer in North Dakota Senate Race Phillips cited Cramer's support for the Export Import Bank, the farm bill and the $1.3 trillion spending package for the decision. According to Forbes Magazine , the men are worth about $60bn (£45bn) each, and are tied for eighth richest man in the US.

Harley-Davidson rebels with an electric motorcycle Harley-Davidson rebels with an electric motorcycle As it turns out, it won't come until 2019, but the company has way more up its sleeve than just a single electric bike. FILE PHOTO: Harley Davidson motorcycles are displayed for sale at a showroom in London, Britain, June 22 2018.

Sanchez shines as United edge Milan in shoot-out Sanchez shines as United edge Milan in shoot-out However, he was included in Liverpool's XI for the 2-1 win over Manchester City in the International Champions Cup . Meanwhile, new boy Xherdan Shaqiri says his "conscience is clear" after criticism of his attitude while at Stoke.

Vettel knew shot at Hungary win over after pit issue Vettel knew shot at Hungary win over after pit issue Before the race, there had been a one minute silence, in hommage to the recently deceased President of Ferrari: Segio Marchionne. Stoffel Vandoorne should have made it a double-points finish for McLaren but retired from ninth with a gearbox problem.

Thomas Markle speaks about former drug use in unusual interview He continued, "How tragic is that, to deprive a child of its grandfather because I said a few things critical of the royal family".

Carr Fire grows 35 percent overnight - Totally out of control Carr Fire grows 35 percent overnight - Totally out of control The fire has now taken five lives, destroyed 517 structures and damaged 135, with over 5,000 structures currently threatened. The Mendocino County Sheriff's Office ordered evacuations for people living in an area of Ukiah north of Highway 175.

Urabeños cartel puts $70,000 price on dog's head Urabeños cartel puts $70,000 price on dog's head He has to change location every three hours, according to Business Insider , as police close in on the cartel leader. In fact, during training this is part of her work - not just finding the caches of illicit drugs ".