iPhone X sales defy Wall Street projections as Apple posts $61.1 billion quarterly revenue

By Gadjo Cardenas Sevilla

Apple held its second quarter earnings call yesterday and dispelled any notions that the iPhone, it's most profitable product line, is slowing down in sales. The big surprise was that it was the iPhone X, which is the company's most innovative product and also its most expensive, was the bestseller for the quarter.

“We’re thrilled to report our best March quarter ever, with strong revenue growth in iPhone, Services and Wearables,” said CEO Tim Cook. “Customers chose iPhone X more than any other iPhone each week in the March quarter, just as they did following its launch in the December quarter. We also grew revenue in all of our geographic segments, with over 20% growth in Greater China and Japan.”

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Apple reports profits of $ 8.72 billion and revenues of $ 45.4 billion for Q3 2017

Apple today announced financial results for its fiscal 2017 third quarter ended July 1, 2017. Apple posted quarterly revenue of $45.4 billion and quarterly earnings per diluted share of $1.67. To break down the numbers, The company sold 41 million iPhones, 11.4 million iPads, and 4.29 million Macs.

These results compare to revenue of $42.4 billion and earnings per diluted share of $1.42 in the year-ago quarter. International sales accounted for 61 percent of the quarter’s revenue. The big news this time around is the sudden surge of iPad sales with an increase of 15 per cent year over year. A spike for a product that's long been spiraling in terms of sales. The reason for this could be the availability of a cheaper base mode iPad as well as exciting updates to the premium iPad Pro line as well as operating system changes coming to iOS 11, which put the iPad Pro on par with notebook computers.

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Apple announces all-time record quarterly revenue of $78.4 billion

By Gadjo Cardenas Sevilla

Apple hosted its Q2 2017 Earning's Call this afternoon and announced a revenue of $78.4 billion as a result of  'iPhone, Services, Mac and Apple Watch setting All-Time Records.' These results compare to revenue of $75.9 billion and earnings per diluted share of $3.28 in the year-ago quarter. International sales accounted for 64 percent of the quarter’s revenue.

Apple sold 78.3 million iPhones which is an all-time reacord and up 5 per cent year over year. Apple CEO Tim Cook noted that there was a preference for the larger iPhone 7 Plus model and it considerably outsold the iPhone 6S from a year ago. The iPhone remains Apple's strongest product. 

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Today's Apple earnings report expected to show rebound numbers on strength of iPhone and services

By Gadjo Cardenas Sevilla

Apple will conduct its 2017 Q2 Earnings Call later on today and the company, who has reported year-on-year revenue declines for the past three quarters, is expected to rebound and announce it has hit revenue targets. Analysts speculate on Apple's rebounding due to iPhone 7 sales during the holidays as well as a surge in revenue from Apple's various services including Apple Music, iTunes, Apple Pay and other service complementary to Apple's ecosystem.

"With the stock trading at around $121, we believe Apple is fully priced. Today's earnings report will be of special significance since it is the first report to include a full quarter of Apple's newest flagship device, the iPhone 7," explains Investing.com Senior Analyst, Clement Thibault.

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