Apple Q3 Earnings Reached All Time High
Apple

Apple Shares Q3 Earnings With Record Breaking iPhone Sale

Apple sold over 4 million iPhone in Q3

https://dk2dyle8k4h9a.cloudfront.net/Apple Shares Q3 Earnings With Record Breaking iPhone Sale

On Tuesday Apple shares its third quarter sales figure with the world and crushed the estimates that were given by the analysts earlier. Everyone was thinking the Apple fans were holding back and waiting for the iPhone 8 to launch, but it seems they are still spending plenty on Apple gadgets.

The fiscal third quarter earning shared by the iPhone makers shows the company beats the analyst with the stock rise up to 6% all time-high earning. Apple sold the iPhone more than it expected considering the soft quarter before the iPhone 8 launch. However, the company sold 4.1 million of the iPhones in this quarter and crossed the milestone of 1.2 billion total iPhone sale. The other products of apple also experienced a hike in the sale of this quarter even the Apple watch records 50% increased sale after years.

The share of the Apple raised by 5% in hours and reached $157, the highest ever. The Apple Store also contributed in the company’s immense earning in this quarter.

“If you look at the products, we sold 41 million iPhones, but frankly it's better than that because we also reduced channel inventories by 3.3 million," Apple ,CEO, Tim Cook said to CNBC and added  "If you look across the world, we had several markets in Asia, in Latin America, and the Middle East which grew more than 25 percent year on year. If you look at [iPhone] 7 in the [iPhone] 7 Plus, we grew strong double-digit year on year compared to the 6S plus a year ago. So iPhone was terrific."

The new member to take forward the legacy of the iPhone is expected to hit the market soon and scheduled as decided according to its maker. After the unexpected earning in the third quarter, the company and the analyst are expecting more sum up in sale in the name of iPhone 8. The iPhone 8 is expected to come with features like brighter, edge-to-edge screens and augmented reality capabilities. These new features and rumors about its compatibility with the HomePod speakers made people excited about the launch and it is expected to come out in September.

The earning of the tech giant in the next quarter is expected to increase more, Apple forecasts gross margin between 37.5% to 38% for the next quarter. Apple also predicted the next quarter revenue between $49 billion to $52 billion. On the other side, the Analyst poll at Thomson Reuters expert at the Apple forecasts for gross margin is 38.3% and revenue $49.21 billion.

The company also shared that it shipped 11.42 million of iPods against the estimation of 9.03 and 4.29 million of Mac which is lower than what Apple estimated 4.33 million.

Despite the quarter win by unexpected numbers, the company is still facing challenges in the Chinese market. The sales of Apple in China fall 10% year over year this quarter and 14% year over year last quarter. The local rivals like Xiaomi and Huawei are giving a tough competition to the Apple in China.

For the Latest tech news and reviews, follow MobileAppDaily on Twitter, Facebook, LinkedIN, Instagram and Flipboard.

Joshua Anderson
Written By
Joshua Anderson

Joshua is a writer at MobileAppDaily and also works as a reporter for the team to keep our readers up to date. He is breaking the mobile app technology news for MobileAppDialy since 2016 and has more than 4 years of experience as a tech blogger.

Top Companies

01.
InMobi
Singapore
02.
Dot Com Infoway
New York, USA
03.
M&C Saatchi Mobile
New York City, USA
04.
Techmagnate
New Delhi, India
05.
Fetch
London, UK
View full report

Latest Articles

Apple

Apple Is Facing Number of Lawsuit After iPhone Battery And Performance Revelation

Akash Singh Chauhan 4 min read  

Apple users are not happy with the company’s untrustable behavior and its product's performance. After Apple admitted that it has throttled down the older iPhones performance in last 1 year for degraded batteries, things are getting a little bit grim for the company. The matter not only ra

Apple

Apple Appointed a New VP and Managing Director For The Chinese Market

Eric Jones 4 min read  

Apple considerably knows the importance of the China's potential market and don't wanna give any slip. Apple just announces a major job role in China market of Apple inc., a new VP, and Managing director is assigned to the China's region. Isabel Gel Mahe who is the engineering leader is

Apple

Asking Siri To Define 'Mother' May Not Turn Out As Expected

Vikram Khajuria 4 min read  

Siri is a well-known virtual assistant part of Apple Inc. One can communicate with it through voice commands and this amazing tech is now almost six years old. With each passing year, we expect Siri to get better and smartly understand the commands. However, in one of the recent instance, Siri respo

Apple

A Quick Comparison of The Latest Flagship iPhones From Apple

Neha Baluni 4 min read  

It marked Apple’s 10th-anniversary last week and that gave me a perfect reason to dedicate a post to this Cupertino-based technological giant to count the contribution it has been doing to humankind since decades. Apple’s iconic smartphones have surely evolved over the past few years. Cu