Apple’s sales in Greater China rose 99% on an annual basis. “For a person looking for a high-end smartphone, iPhone and Apple ecosystem is by far the safest option at the moment”.
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The company’s share price took a hit after the results because revenue was slightly down on the previous quarter. Analysts had been expecting revenue of just over $77 billion, according to Thomson Reuters I/B/E/S.
China has said to have accounted for a couple of million units sold during the launching weekend for the new iPhone, contributing to the record-breaking 13 million units sold in the first weekend of the release. In Q1 FY2015, Apple sold 74.5 million iPhones, so the bar is high. Sales of iPhones reached a fourth-quarter record and the company said it sold more Macs than ever.
Apple painted a rosy picture for its new iPhones on Tuesday United States time, but a sequential slowdown of overall sales in China cast doubt on the strength of its business in the world’s most important market for smartphones.
The company’s shares rose 2.6 percent in extended trading. Global sales brought in over 60 per cent of Apple’s revenue. But analysts have questioned whether the company could duplicate that success.
Prior to the report, analysts were calling for earnings of $3.22 a share in the holiday period on $77.1 billion in revenue.
Stay tuned for additional details as they become available.
“We continued to see strong financial performance this quarter, as well as meaningful progress across our three areas of focus: ensuring more disciplined execution, simplifying our services, and better communicating the value of our platform”.
And while the number of Android defectors may be an impressive figure, there’s still more converts to be guided to Apple’s latest quartet of handsets.
Revenue from services, which includes iTunes and Apple Pay, was also at an all-time high at $5.09 billion.
As expected, Apple has yet to announce Apple Watch sales numbers, which remain a mystery regarding the wearable device.
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Apple turned in another powerhouse quarter, meeting analyst estimates for both profit and revenue and confidently projecting that it will have a strong holiday quarter, leaving investors cautiously optimistic that the firm can keep growing.
