Apple reports sales of 40.4 million iPhone units in latest quarter; shares soar back over $102

Apple reports sales of 40.4 million iPhone units in latest quarter; shares soar back over $102
Apple reported this afternoon that sales of the iPhone during its fiscal third quarter amounted to 40.4 million units. That figure barely topped Wall Street's predictions that Apple would ring up 40 million iPhone handsets in the period. On a sequential basis, the 40.4 million phones sold was down from the 51.2 million units purchased in the fiscal second quarter. It also represented the second consecutive month with a year-over-year decline in handset sales. Last year's third fiscal quarter saw Apple sell 47.5 million smartphones. Until the fiscal second quarter, Apple had never reported a drop in year-over-year sales of the iPhone. Now it has done this in two consecutive quarters.

Apple was able to reduce its inventory of high-end iPhone models during the three month period. With the inclusion of the lower priced Apple iPhone SE, the average selling price of an iPhone was $595. Apple expects this figure to rise this quarter. Strong growth in iPhone sales was seen in Russia, where that figure doubled year-over-year. Double digit increases were seen in Japan, Turkey, Brazil, India, Canada and Sweden. Apple also saw strength in the business market for its smartphone.

For the period from April through June, Apple reported earnings of $7.8 billion, a 27% decline from last year's $10.68 billion. Earnings per share dropped from $1.85 a share to $1.42. Revenue declined to $42.36 billion from last year's $49.6 billion. Wall Street was looking for earnings of $1.38 a share with $42.1 billion in revenue. At 38%, the company's overall gross margin was in line with estimates.

Tablet revenue grew for the first time in 10 quarters. While iPad revenue rose 7% year-over-year, units sold declined 8.2% from 10.9 million slates to 10 millio. But the average selling price rose from $490 to $415 thanks to the higher priced Apple iPad Pro
 

Shares popped after hours thanks to the better than expected results. While last quarter's report took the stock under $100, today's report has Apple back above that figure. After hours, Apple's shares are trading at $102.92, up 6.5% since the report was released. Investors are responding to Apple's reported iPhone sales, revenue and earnings for the quarter; the company topped Wall Street estimates in each category.


source: WSJ

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75 Comments

1. darkkjedii

Posts: 30786; Member since: Feb 05, 2011

Great, now let's get on to this Tuesday for the Note 6, and September for the 7/7Plus.

2. sissy246

Posts: 6959; Member since: Mar 04, 2015

Note 7

20. darkkjedii

Posts: 30786; Member since: Feb 05, 2011

2011-Note, 2012-Note 2, 2013-Note 3, 2014-Note 4, 2015-Note 5, 2016-Note 6. Name Note 7, edition Note 6.

25. shahrooz

Posts: 792; Member since: Sep 17, 2013

iphone 10/10plus not 7/7plus.

34. darkkjedii

Posts: 30786; Member since: Feb 05, 2011

Exactly. What did you think I was gonna do...argue? Funny you tried to use the iPhone lol. I'm not a fanboy.

62. deviceguy2016

Posts: 826; Member since: Jun 16, 2016

Junk/junk plus

68. shahrooz

Posts: 792; Member since: Sep 17, 2013

I didn't "used" the iPhone, I just pointed out that you should say 10/10plus based on that logic, but you didn't. "I'm not a fanboy." why did you say that? too much phonearena?

32. sissy246

Posts: 6959; Member since: Mar 04, 2015

Whatever

35. darkkjedii

Posts: 30786; Member since: Feb 05, 2011

Owned.

37. sissy246

Posts: 6959; Member since: Mar 04, 2015

Nope Samsung skipped the note 6 all together and went to note 7. You can say note 6 all you want, but it is and all ways will be the note 7.

44. darkkjedii

Posts: 30786; Member since: Feb 05, 2011

This will be the 6th edition to the Note line. Nice try though.

48. sissy246

Posts: 6959; Member since: Mar 04, 2015

In your first post you called it note 6 not edition #6 . I pointed out it is the note 7. If you had said edition #6 but called note 7 I never would had said anything. This is a iphone article so I am done with you about this. Now its past your bed time. Does your mommy know you are up.

63. deviceguy2016

Posts: 826; Member since: Jun 16, 2016

He's is the grammar professor here lol

55. kryme

Posts: 467; Member since: Oct 24, 2013

6th gen but it is called the note 7 simple... Im sure iPhone 7 is not the 7th gen...

70. TechieXP1969

Posts: 14967; Member since: Sep 25, 2013

So that means the iPhone should be the iPhone 9 this year...right? And not 7. Right? I'm just making sure we apply such to everyone and not just someone.

29. deviceguy2016

Posts: 826; Member since: Jun 16, 2016

Agreed note 7 cash has been ready

4. trojan_horse

Posts: 5868; Member since: May 06, 2016

Yeah! A second year-over-year decline of iPhone is great indeed! :D lulz, it's just the beginning of the end of Apple's unjustified profits and insane price tag. LUULLLZZ

8. darkkjedii

Posts: 30786; Member since: Feb 05, 2011

You're even more of an idiot than I thought you were, if you didn't understand the context of "Great" in that sentence. Wowww man, justwowww.

9. Amroze

Posts: 597; Member since: Jul 04, 2016

See you hypocrite troll, just because he made a negative comment, you call him an idiot, rather than a rebuttal explanation. Typical Apple fanboy sheeppp .

75. deviceguy2016

Posts: 826; Member since: Jun 16, 2016

He's out numbered #strikeout!!

12. trojan_horse

Posts: 5868; Member since: May 06, 2016

I'm not an idiot. It's just that I'm excited to see Apple's sales decline, so that Android OEMs earn more market share and profit. I mean, I was devastated when I learnt that Apple garnered 92% of smartphone sales profit, last year. Come on, man, 92% ? It's not fair!

14. darkkjedii

Posts: 30786; Member since: Feb 05, 2011

If you're excited about that, then imaging how excited you'd be, if you got some cat. Try it sometimes, it's the bomb. Log off, go outside, and talk to some girls. Channel that excitement to some cuddy. You're devastated that Apple gets so much profit? Dude, get life. I'm devastated by the needless loss of innocent life happening around the world. Apples profit doesn't concern me, mine does.

18. trojan_horse

Posts: 5868; Member since: May 06, 2016

I wouldn't be devastated if Apple's profit is justified. The iPhone has never featured the latest tech, and it's cost of production is even cheaper than Samsung's flagship. I see nothing in the iPhone which justifies it's huge success. Your devastation towards the loss of innocent lives is emotional. Mine towards the iPhone's success is a technical devastation. So your devastion isn't related to this article, but mine is! So who needs to "get a life" now? lulz

19. darkkjedii

Posts: 30786; Member since: Feb 05, 2011

LMAOOOOO! Yeah dude, you need some cat lol. I'm done with you little boy.

30. Amroze

Posts: 597; Member since: Jul 04, 2016

Know you've lost the argument, and now you call him a little boy? Just because you couldn't provide an intellectual answer...? You're post definitely is stating, that you are the little kid.

41. idroidsht

Posts: 43; Member since: Nov 11, 2014

See this is the thing with fandroids when it comes to their alleged knowledge of technology . Dude your saying that the iPhone has never featured latest tech automatically invalidates your status as someone who knows anything about tech. Who brought the first 64 bits chip? who brought Touch ID? Who brought 3d touch? Who even brought the first Modern Smartphone with a touch screen? The iPhone!!!!!! I could go on telling poor clueless souls like you about it all but, your likes are just too unimportant to even post another reply. Gosh.....a phone doesnt bring any revolutionary tech if it has a design. Like a slopy edge. It may look nice butit is definitely a useless gimmick. Neither are the 3X specifications. They are just stats to fool the clueless made to feel genius.

51. RoboticEngi

Posts: 1251; Member since: Dec 03, 2014

I love it.....isheep arguments always include "poor fandroid", even though the best selling androids cost the same as the "luxury" iphone (which is cheaper to produce). Now on to the tech. 64 bit.....yeah ARM made it possible. Fingerprint sensors was brought by Motorola. 3D touch, that's apple alright, but it's gimmicky just like the "slopy" edge.....And it always takes a sheep to keep talk about specs.....until their loved iphone isn't the king of that area, then it suddenly doesn't matter.....isheep are hypocritical cr

52. RoboticEngi

Posts: 1251; Member since: Dec 03, 2014

I love it.....isheep arguments always include "poor fandroid", even though the best selling androids cost the same as the "luxury" iphone (which is cheaper to produce). Now on to the tech. 64 bit.....yeah ARM made it possible. Fingerprint sensors was brought by Motorola. 3D touch, that's apple alright, but it's gimmicky just like the "slopy" edge.....And it always takes a sheep to keep talk about specs.....until their loved iphone isn't the king of that area, then it suddenly doesn't matter.....isheep are hypocritical creeps.

66. YOURDADkid unregistered

You are wrong and you will need to get your facts clear Dude!! Just Google it and you will find : People didn't start using the term "smartphone" until 1995, but the first true smartphone actually made its debut three years earlier in 1992. It was called the Simon Personal Communicator, and it was created by IBM more than 15 years before Apple released the iPhone. So technically you are wrong and iSheeps are always wrong.

21. Amroze

Posts: 597; Member since: Jul 04, 2016

You need help. You are going to be the only one who truly knows whether this is the right step for you to take. I know that it can feel scary, thinking about laying it all out there on the line for someone else to see and hear. But if true understanding and healing is what you seek, I would much rather do that with someone who has experience in guiding others through that kind of transition. Hard? Yes Worth it? Yes Insomnia, stress, anger, irritability, depression, anxiety, mediating. You need therapy and counselling.

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