Apple has posted Q3 18 results, and the results won't be a disappointment to investors, with the Cupertino powerhouse squeezing another good quarter out of the iPhone, and gets a decent one out of the iPad. The earnings beat street estimates but iPhone sales did not match consensus from most analysts. Apple (NASDAQ:AAPL) also declared a quarterly dividend payment of $0.73 per share, which is payable on August 16 to shareholders of record as of August 13.
Shares rose 3.4 percent to $196.80 in after-hours trade.
Apple sold 11.5 million units of iPad during the quarter, a 5 percent year-over-year decline in revenue totalling $4.7 billion.
Apple Chief Financial Officer Luca Maestri told Reuters that customers were buying costlier models and the US$999 iPhone X was the quarter's best seller. The California-based giant's performance for this quarter is much better compared to the same period previous year, where Apple posted a revenue of $45.4 billion, quarterly profit of $8.7 billion, or $1.67 EPS. But analysts expect that Apple will release three new models in the fall, to diversify its offerings and convince those who did not upgrade to the iPhone 8 or the iPhone X that it's time to buy a new phone. Services revenue was up 31% YOY at $9.54 billion, which was also better than Wall Street's expectations.
Apple's software and services division, which includes the App Store as well as the company's music streaming service and mobile payment software, has become its growth powerhouse as smartphone sales flatline, and is now its second most-lucrative business unit after the iPhone itself.
Apple's guidance for Q4 was $60 billion and $62 billion in revenue, versus analysts' expectations of $59.48 billion.
Let's start with the iPhone.
Deposed tyrant Robert Mugabe votes in first election since his removal
A recent Afrobarometer survey of 2,400 people put Mnangagwa on 40 per cent and Chamisa on 37 per cent, with 20 per cent undecided. Mugabe‚ however‚ denied reports that he was politically or financially supporting Chamisa‚ and added he had never met him before.
Colombian Drug Gang Puts $70K Bounty On German Shepherd — BRUHNews
A drug gang seen as Colombia's most powerful criminal entity has placed a price on the head of one of its biggest enemies. But even with advanced technology, experts say on-the-ground detective work like that performed by Sombra is critical.
Cruise Ship Employee Kills Polar Bear Following Attack
The animal attacked the guard after the boat docked at the island, with the two men reaching land before the tourists. The polar bear was then shot dead "in an act of self-defense" by the second guard, spokeswoman Negar Etminan said.
iPhone sales came in slightly short of the expected 41.6 million units, at 41.3 million during what is typically Apple's slowest quarter for phone sales.
"We're on target to reach our goal of doubling our fiscal 2016 services revenue by 2020", CEO Tim Cook assured investors on the call.
Apple has repeatedly highlighted the growing amount of money it is taking in from music, applications, games, subscriptions and services it sells to people using its devices.
Apple's numbers also show that it's dependence on the United States market as well as the on iPhone lineup is coming down. Apple also regained growth in China, where sales rose 19 per cent.
The maker of iPhones, iPads and other products posted revenue of nearly $53.3 billion in the period, also exceeding Wall Street forecasts. Analysts surveyed by Zacks had expected revenue of Dollars 58.59 billion.
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.