Apple reports better-than-expected results in Q3 2017

Apple, the world’s largest market capitalization, reported its financial results for the third quarter of 2017, which ended at the end of June, with revenue of $ 45.41 billion, up 7 percent from the same quarter last year.

The company posted a net profit of $ 8.72 billion compared to $ 7.8 billion for the same period last year, an increase of 11.8 percent, driven by a rise in revenues from the Apple services sector such as Apple Store, Apple Music and Apple TV.

IPhone sales were up 1.5% from a year earlier, with the company selling 41.026 million iPhones, a slight growth but not expected in the third quarter as the new generation of iPhone handsets approaches.

The surprise was in IBAD sales, which jumped 15% year-on-year, and this is the first time since 2013, when the recession dominated tablet sales and the company sold 11.4 million units. Apple also sold 4.29 million Macs, up from last quarter’s 4.19 million.

In the fourth fiscal quarter ending September, Apple expects revenues of $ 49 billion to $ 52 billion. This gave a tremendous boost to investors, contributing 5.9% to the end of trading today. The share price was approximately $ 160, the highest in the company’s history. .

 

 

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