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August 2, 2017 02:00 am
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/rxDilBBsJtY/apples-shares-rise-on-better-than-expected-iphone-sales
Apple's Shares Rise On Better-Than-Expected iPhone Sales
Apple reported a 7.2% rise in quarterly revenue on Tuesday, thanks to better-than-expected sales of its iPhones. "The company said iPhone sales rose 1.6% to 41.03 million in the third quarter ended July 1, above analysts' average estimate of 40.7 million units," reports Fortune. "Apple sold 40.4 million iPhones a year earlier." From the report: Apple's shares rose 4% in after-hours trading on Tuesday to $ 156.00.Many customers wait for Apple to launch its new smartphones before deciding on upgrading or replacing their current devices, which usually results in iPhone demand tapering in the months before a release. The company forecast total revenue of between $49 billion and $52 billion for the current quarter, while analysts on average were expecting $49.21 billion, according to Thomson Reuters I/B/E/S. Analysts on average expect the company to sell 45.55 million iPhones in the current quarter, according to FactSet. Apple sold 45.51 million iPhones in the year-ago quarter.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/rxDilBBsJtY/apples-shares-rise-on-better-than-expected-iphone-sales
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