Apple Q2 results silence iPhone X critics with US$61B in revenue

Apple Q2 results silence iPhone X critics with US$61B in revenue

Apple Inc. sold 52.2 million iPhones in its fiscal second quarter, in line with analysts' expectations, showing demand remains strong for the company's most-important product.

The company also predicted revenue of US$51.5 billion to US$53.5 billion in the June quarter, ahead of the US$51.6 billion Wall Street expected as of Monday evening, and the share repurchases in the March quarter drove Apple's cash net of debt down slightly to US$145 billion.

In her earnings preview, Huberty wrote that the App Store generated $1 billion in revenue in China for the first time during the March quarter.

For the quarter ending March 31, Apple posted revenue of $61.1 billion, up 16 percent from a year ago. Apple announced revenue from Greater China market grew 21 percent during the second quarter. Although scheduled to launch in India in May this year, Apple launched the iPhone 8 Red and the new iPad 6th generation in April itself.

There had been increasing concerns about iPhone sales in the run-up to the results. The iPhone results, in any case, should put to rest reports of weak iPhone X sales: Cook said that Q2 2018 was the first quarter in which the top-of-the-line iPhone model was also the most popular.

On a conference call with analysts, Apple CEO Tim Cook said the iPhone X was the company's top selling model each week in the quarter.

"The iPhone X is a beloved product", he said. "Maybe you want them to win with a few more points, but it's a Super Bowl victor..." "That's how I see iPhone X".

Even Apple Inc.'s biggest supporters had been predicting doom and gloom in China heading into the company's earnings report Tuesday, but the iPhone maker had a surprise for everyone.

Arizona Teachers Say They'll Go Back To School If Budget Is Passed
Ducey has promised to bump teacher pay 20 percent by 2020 and restore payments to that fund to pre-recession levels in five years. The teachers' unions have proposed a 2.5 percent tax on financial and legal services, which would bring about US$2.5bn a year.

The Cupertino, California-based company reported a 2.9 percent increase in units sold from 50.1 million iPhones in the quarter a year earlier.

With all the dire predictions and forecasts of iPhone sales slowing down, Apple has been facing something of a PR nightmare recently.

"So we're working toward those things".

On an earnings call with analysts, Cook said that he's not anxious that the pool for new iPhone customers is shrinking, despite the fact that people aren't buying high-end phones as frequently as they have in the past. "Given our confidence in Apple's future, we are very happy to announce that our Board has approved a new $100 billion share repurchase authorization and a 16 percent increase in our quarterly dividend". In addition, Apple's paid subscriptions across these services crossed the 270m mark in the quarter, an increase of 100m over the previous year.

During the last couple of years, Apple has been aggressive in India.

"That's our focus and I'm optimistic that - I don't know every play by play that will happen but over time, I think that view will prevail", Cook said, in response to a question about the likely impact on demand in the event of a trade war between the United States and China. Unlike many online publications, we don't have a paywall or run banner advertising, because we want to keep our journalism open, without influence or the need to chase traffic.

"We're thrilled to report our best March quarter ever, with strong revenue growth in iPhone, Services and Wearables", Cook said said in a statement. The latest figures were boosted by growth in all of its geographical segments, most notably in China and Japan, which saw growth of 20 percent.

Related News:



Most liked

Brokerages Anticipate Yum! Brands (YUM) to Post $0.68 Earnings Per Share
Rhumbline Advisers reported 0.1% in YUM! Brands, Inc. (YUM) stock has been separated 9.43% away from the 200-day MA. Nomura downgraded shares of Yum! On Tuesday, January 23 the rating was maintained by Stifel Nicolaus with "Buy".

Bhp Billiton Plc (BBL) Stake Held by Polaris Capital Management Llc
Town And Country State Bank And Tru Dba First Bankers Tru reported 1.37% of its portfolio in 3M Company (NYSE:MMM). Out of 2 Wall Street analysts rating Celadon Group, 1 give it " Buy ", 0 "Sell" rating, while 1 recommend "Hold".

Chicago Cubs vs. Colorado Rockies
Chicago improved to 16-10 on the year and entered Tuesday in first place in the NL Central, half a game ahead of Pittsburgh. Colorado was last in the majors with a.224 team batting average, a number that plummets to.203 away from Coors Field.

Kanye West Stirs Up TMZ Newsroom Over Trump, Slavery, Free Thought
My point is for us to have stayed in that position even though the numbers were on our side means that we were mentally enslaved". I'm appalled. "I am unbelievably hurt by the fact that you have morphed into something, to me, that's not real".

NFL Not Considering Eliminating Kickoffs This Season
Green Bay Packers president, Mark Murphy, is definitely in favor for these changes in the kickoff rules in concern for his players health.

Flight passenger detained after he opens emergency exit to get fresh air
Chen said he was detained by police for 15 days following the incident "for the unauthorized removal of aviation facilities". He claimed that he accidentally opened the emergency door as he was getting airsick and wanted some fresh air.

Comparing Applied Materials, Inc. (AMAT) and Altaba Inc. (AABA)
According to 2017Q4 Securities and Exchange form the John Armitage reduced its holdings in Applied Matls Inc ( AMAT ) by 8.44%. This represents a $0.80 annualized dividend and a dividend yield of 1.61%. 10 funds opened positions while 16 raised stakes.

Row Over Muhammad Ali Jinnah Portrait At Aligarh Muslim University
Guatam said he doesn't know where the picture is displayed in the university but questioned why it is there altogether. He said no other Jinnah picture can be found elsewhere on campus - in any department, library or any other building.

Real Madrid 2 v Leganes 1 - story of the match
Real Madrid managed a slender 2-1 win over Leganes in a hard-fought derby at the Santiago Bernabeu. Leganes' Darko Brasanac scored a goal off a cross by Nordin Amrabat at minute 66.

Duke Realty (NYSE:DRE) Receives Media Sentiment Score of 0.19
Baird set a $32.00 target price on Duke Realty and gave the stock a "buy" rating in a research note on Monday , February 5th. Investors expect Realty Income Corporation ( NYSE :O)'s quarterly earnings on May, 8 after the close., as reported by Faxor.

J Dey murder case: Chhota Rajan, 10 others convicted; Jigna Vohra acquitted
She said that 'I want all the accused to get a maximum punishment of death and nothing less than that, who had killed my brother. Arup Patnaik who was the Mumbai police commissioner the time of the murder, said: "I feel relieved".

Theresa May threatened with Government collapse over European Union customs plans
Tory sources told the Telegraph the group has threatened to withdraw support for the government if the plan is pushed through. Rees-Mogg said the report should not be seen as a threat to May's position.

AG: Jury should decide Penn State hazing death case
If they lose the appeal, Shapiro's office could decide to appeal the decision to the Superior Court. Five of those were charged with aggravated assault, involuntary manslaughter and simple assault.

United Nations delegation wraps up visits to Bangladesh, Myanmar
Suu Kyi's office also said in a statement that cooperation was needed from Bangladesh on the repatriation of refugees. Many in Myanmar regard Rohingya as illegal immigrants from mostly Muslim Bangladesh.

Kimi Raikkonen hit wall 'at full speed' during Azerbaijan GP restart
The Finn's trials and tribulations began even before the race got underway when he got caught out by a gust of wind and almost crashed on his way to the grid.