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Apple sees revenues rise after selling 41 million iPhones in three months

02 Août 2017

What's more, Services revenue hit an all-time quarterly record.

The world's most-valuable listed company's third quarter results showed it sold just over 41 million of the smartphones worldwide - bucking the usual trend of a fall in the three months to July in what is traditionally its weakest period in terms of earnings.

RBC Capital Markets analyst Amit Daryanani agreed, writing that the forecast suggests iPhone unit sales will increase by about 10% from the third quarter, "implying launch timing could be end of September and Apple has enough units to have a strong launch".

The fourth quarter predictions will be somewhere between $49 billion and $52 billion, according to Apple's report.

One clue that Apple's expecting big things in the second half of its calendar year comes from the revenue forecast for the upcoming September quarter that it provided Wall Street. Apple sold 40.4 million iPhones in the year-ago quarter. The latest on the Apple iPhone 8 states that the device is expected to come with an OLED panel, and possibly use face recognition to unlock the device and to verify information.

The three month spring period is traditionally Apple's quietest, but the California company still managed to convince the same number of people to snag an iPhone as it did in the corresponding quarter past year.

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Apple said its revenues rose to $45.41 billion from last year's $42.36 billion.

This is above industry analysts' predictions of around $44.95 billion (£34 billion).

Apple is expected to overhaul its smartphone lineup in September as it marks the iPhone's tenth anniversary.

"Not only is $7.3 billion in revenue hugely significant in its own right, it underlines the ecosystem advantage it has over its competitors outside of China". Average selling prices could also face some pressure, as Apple tries to reduce inventory of iPhone 7 and prior models via some discounting.

In a conference call, Cook praised Apple's results, saying the company enjoyed growth in all product categories.

Apple's board of directors has declared a cash dividend of $0.63 per share of the Company's common stock. That total excludes Hong Kong, where Apple's sales have been plunging. But Apple's net income and revenues both surged, thanks in part to its services business. Unlike the ups and downs of hardware sales, it tends to grow as more people use more Apple products.

Apple sees revenues rise after selling 41 million iPhones in three months