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Apple sales fall as expected, sees stronger Q4

Apple sales fall as expected, sees stronger Q4

Apple reported lower sales on an annual basis for the third consecutive quarter in Q3, but the 9 percent drop to USD 46.85 billion was in line with the company's outlook. Net profit dropped to USD 9.01 billion or USD 1.67 per share from USD 11.12 billion or USD 1.96 per share a year ago.

With the iPhone 7 only launching in late September, revenues from the company's flagship product fell 13 percent year-on-year but were up 17 percent from the previous quarter to USD 28.16 billion. Unit sales reached 45.51 million, down 5 percent on an annual basis and 13 percent higher compared to the previous quarter. iPad sales were stable year-on-year at USD 4.26 billion, while unit sales were down 6 percent to 9.27 million. Mac revenues fell 17 percent from a year ago to USD 5.74 billion.

On a geographic basis, Apple continued to show the sharpest drop in sales in China, with revenues down 30 percent year-on-year to USD 8.79 billion. Sales in the Americas were also down 7 percent to USD 20.23 billion, while Europe grew 3 percent to USD 10.84 billion, and Japan showed healthy growth of 10 percent to USD 4.32 billion.

Apple forecast a jump in revenues in the last quarter of 2016, to USD 76-78 billion, while the gross margin will remain at around 38.0-38.5 percent. The company also maintained its quarterly dividend at 57 cents a share. Apple said it was "thrilled" with the customer response to the new iPhone and Apple Watch, and also continued to grow its services business, with revenues up 24 percent in the past quarter to a new record.

Source: Telecom Paper

 

#Related keywords

' Apple Q4

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