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Apple Beats Sales Estimates Amid Reports of Poor Demand For iPhone X (bloomberg.com)
Apple today reported revenue and profit that beat analysts' estimates and projected continued sales momentum. The results come amid reports that demand for its flagship iPhone X have fallen. Bloomberg reports: Apple revenue rose 16 percent to $61.1 billion in the fiscal second quarter. That was the fastest growth in more than two years. Profit came in at $2.73 a share, the company said Tuesday in a statement. Analysts expected sales of $60.9 billion and earnings per share of $2.64, according to data compiled by Bloomberg. Fiscal third-quarter revenue will be $51.5 billion to $53.5 billion, also ahead of Wall Street forecasts.
Apple sold 52.2 million iPhones in the fiscal second quarter, up 2.9 percent from a year earlier. Analysts had projected of 52.3 million, on average, although some investors expected fewer units. The average selling price was $728, versus analysts' expectations of $740. That suggested the flagship iPhone X didn't perform as well as some anticipated when it launched last year. Earlier this year, Chief Financial Officer Luca Maestri said iPhone revenue would grow by at least 10 percent year-over-year in the fiscal second quarter. Apple easily hit that goal, with 14 percent iPhone revenue growth in the period.
Apple sold 52.2 million iPhones in the fiscal second quarter, up 2.9 percent from a year earlier. Analysts had projected of 52.3 million, on average, although some investors expected fewer units. The average selling price was $728, versus analysts' expectations of $740. That suggested the flagship iPhone X didn't perform as well as some anticipated when it launched last year. Earlier this year, Chief Financial Officer Luca Maestri said iPhone revenue would grow by at least 10 percent year-over-year in the fiscal second quarter. Apple easily hit that goal, with 14 percent iPhone revenue growth in the period.
Ha ha! You morons fall for trumped-up reports of Apple sales declines like EVERY QUARTER so the short sellers can cash in.
The amusing thing is, the Apple Haters of Slashdot act as a tool of the wealthy elite.
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