Apple delivers higher profit as iPhone X launches
- Author: Regina Walsh Nov 03, 2017,
Nov 03, 2017, 0:52
The $28.85 billion revenue from iPhone sales accounted for almost 55 percent of total revenue, which rose 12.2 percent to $52.58 billion. That equals earnings of $10.7 billion, or $2.07 per share, beating the anticipated $1.87. A day ahead of the iPhone X official launch date, Apple's outlook for the current quarter suggests production and sales of the smartphone should be strong. The real question is: Can Apple fulfill demand, or will sales be hampered by previously-reported supply chain issues?
The device category rose about 2% during Q4 as compared to previous year, which seems like a modest amount considering no one expected the iPhone 8 and iPhone 8 Plus to do as well as they did.
Cook and company say they expect between $84 billion and $87 billion in revenue next quarter.
Revenue in that division surged 34% to $8.5 billion during the July-September period.
Release of the earnings figures pushed Apple shares up more than three percent to US$173.55 and came as iPhone X models began hitting the market in some time zones.
Analysts were projecting Q1 revenue of $85.31 billion.
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Apple's market capitalization of about $868 billion makes it the world's most valuable publicly traded company. It competes with a range of revamped Echo speakers from Amazon.com Inc. and Google's Home devices. Sales in China were up 12%, reversing a drop off in the company's second largest market.
The iPhone 8 and iPhone 8 Plus went on sale in October, boasting improvements to the camera and the addition of wireless charging.
Wang Hao, a 24-year-old engineer in the northeastern port city of Dalian, said he ordered the new phone despite the high price tag.
Telsyte managing director Foad Fadaghi said demand for Apple's premium smartphone would rise even after its launch as buyers who held out to see the handset made up their minds, and Australia's iPhone 6 and 6S users jumped on the chance to upgrade. Apple sold 10.3 million iPads, 46.7 million iPhones, and 5.4 million Macs during the quarter. This marks the second consecutive quarter of iPad growth after years of slipping sales.
According to the reports, Where the primary requirement for iPhone X has been the title of extremely consideration and the announcement of the iPhone 8 had been satisfied with shorter than the magnificent sale.
One of Apple's latest customer lock-in tools is an updated mobile operating system supporting augmented reality features and apps that can super-impose images and information onto a user's view of the real world.