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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.
"There is more worth loving than we have strength to love." - Brian Jay Stanley
... and they're very good a taking as much as they possibly can and giving as little back as possible. I'd settle for an Apple that plays better with others and allows its customers freedom of choice. Needless to say but I'm not holding my breath. BTW, my next phone won't be an iphone.
Trump has ushered in a new Golden Age. All hail Emporer for Life, Trump!
> the flagship iPhone X didn't perform as well as some anticipated
iPhone X failure - with it's price tag and ridiculous notch is probably what Apple is going to tweak next. Their expected "new" line of *cheaper* phones, support contracts and accessories (like the Airpod) will help Apple continue to fleece their customers. Battery issues will also help drive up sales...
They have god knows how much money stored on Islands, about to do record stock buy backs, there is a decline in smartphone sales. Just before the 2008 crisis fraud spiked, would it be out of the realm of possibility that this just isn't true, how would we know?
The headline says that Apple "beat sales estimates". I don't have a calculator handy, but I believe 52.2 million is less than the projected 52.3 million.
You are welcome on my lawn.
They are, which is why Apple is the 5th best selling phone in China !
Where was the supercycle on the promised iphone X on the back of it copying Androids full screen designs? The phone that is the defining phone for the next 3 years. It turns out it is no iPhone 4; Which earned Apple its Premium label, or the iPhone 6; copying other Manufactures bigger and growing Androids screens.
It turns out copying 2011's Googles Nexus one's lackluster feature of facial recognition is still lackluster 7 years on. They should drop it like 3D touch.
Its all a bit MEH; Selling LESS phones for MORE (markup) money in a climate where Xiaomi caps its profit margin at 5%.
The one in my pocket is a Xiaomi at 15% of an iPhoneX with an SDCard, IR Blaster, Headphone Jack, FingerPrint Reader, and a Massive Battery that won't half its speed in a years time.
The new Apple are actively marketing at Android users with a strategy of a tiny cheaper but still poor value iphoneX(SE2?) when my phone still costs a fraction of the cost when my screen is 6.4". Is that going to be a supercycle or a bit MEH.
Being a Tool of the wealthy is buying a Chinese phone with an outdated design, twinned with an outdated first party applications, crippled by removing hardware features, and maintaining none standard hardware features. Then obsoleting the phone with unusable battery and memory and then cutting performance in HALF. At 8 times the price of arguably better products, because of...branding.
At least it was a original by copying the Essential Phones notch...and making it UGLY.
Suck it, Blackberry!
Too Flowery, Didn't Read.
"There is more worth loving than we have strength to love." - Brian Jay Stanley
Apple sold almost exactly the same number of phones as last year. Unless you think they can keep increasing the price of their phones or somehow makeup for the loss of unit growth
I'm curious where you get from "sold the same number" to "loss of unit growth" HUR DE DUR DUR.
What you also skipped over was that selling the same number of phones Apple increased profits over last yer. Why, it's ALMOST like Apple has multiple product lines that are ALSO growing! HUH!
Meanwhile as profit continues to grow year after year, Apple also continues to buy back stock. A combination of slowly growing profits and a shrinking base of stock units held means they are increasing in value, no matter if the market thinks so or not. Meanwhile, plenty of juicy dividends....
"There is more worth loving than we have strength to love." - Brian Jay Stanley
apple make a bunch of money; boringgg!
Get back to me when they make something new and innovative; like we expect from a tech company.
That's the impressive part.
The first thing Cook said about the iPhones was that the iPhone X was the best seller in all categories of iPhones. And the best seller of iPhone X was the bigger storage option.
That's so disingenious to simply ignore that comment altogether in order to follow the scripted rhetoric your investors are requiring you to say.
The one in my pocket is a Xiaomi at 15% of an iPhoneX with an SDCard, IR Blaster, Headphone Jack, FingerPrint Reader, and a Massive Battery that won't half its speed in a years time.
And likely came pre-installed with Chinese spyware and will never see another security update in its lifetime.
Ironically Unlike your Chinese iPhone Xiaomi is expanding its manufacturing to India so is less likely to Spyware. It also has been excellent at updating with devices having five year updates as well as due to the open nature of Android having third party roms.