Apple reports strong sales of the iPhone X, exceeds expectations

People still buy the iPhone X from Apple.

The company said Tuesday that it had sold 41.3 million iPhones during its third fiscal quarter, which is not bad for a phone that is not in the market only for six months. Analysts were expecting Apple to sell 41.8 million iPhones, according to Toni Sacconaghi, an badyst at Sanford C. Bernstein. In comparison, the company sold 41.03 million in the same quarter of 2017.

"We are pleased to announce the best quarter of the history of Apple and our fourth consecutive quarter with double-digit growth in the business figure, "said Tim Cook, Apple's general manager, in a statement. Cook noted that strong sales of the iPhone, services and wearables have increased financial results.

Although the number of units sold from the iPhone has not been a great success, the projection of Apple's business revenue The quarter exceeded expectations badysts, just like the third quarter turnover and earnings per share.

Apple's shares rose 2.2% to $ 194.44 in trading after the closing of the stock market.

Cook has pushed Apple's expansion beyond the iPhone, but the company continues to obtain most of its revenue through the popular phone. In the second quarter, 52.2 million iPhones were sold, accounting for 62% of sales, while services, Macs, iPads and "other products," such as AirPods, contributed to the rest of the figure d & # 39; business. Apple, however, has surprised almost everyone this quarter by announcing solid results despite fears that the slowdown in phone demand is affecting the Cupertino giant.

Whatever the case may be, with regard to the third fiscal quarter, which covers the three months ending June 30, Apple can be forgiven. This is the smallest quarter for Apple in terms of contribution to the annual business figure. And, at the end of the quarter, every June, the brand's new phone usually takes nine months to market, as was iPhone 8 and iPhone 8 Plus, which were introduced in September 2017

On this occasion, however, things were a little different. Apple began selling the iPhone X six weeks after the appearance of the iPhone 8 and 8 Plus on the market.

The iPhone X is Apple's top-selling phone since the device reached stores on Nov. 3 until the end of the second fiscal quarter, though it is the most expensive phone in the business – the 5.8-inch device has a starting price of $ 999.

Market watchers set their sights on the next iPhone. Apple is expected to introduce three new models in September including the possibility of a model that would be considerably larger than the iPhone X and that would be significantly cheaper.

"This quarter occupies a secondary place in terms of the main event that focuses on the 2019 fiscal year that will be anchored in the demand for the new iPhone and the increase in the price of the new iPhone. service activity, "said badyst Daniel Ives of GBH Insights.

For the fourth quarter, Apple expected revenues between 60 000 and 62 000 million dollars, more than the 59 600 million expected by badysts, according to Yahoo Finance.

In the third quarter, revenues increased 17% to $ 53.3 billion. In addition, badysts expected a turnover of 52.3 billion dollars, according to Yahoo Finance.

Apple's net profit rose to 11.5 billion US dollars or 2.34 US dollars per share, compared with 8.7 billion US dollars or 1.67 US dollars per share ago a year. Wall Street was planning an increase in its revenues to US $ 2.18

Because so many people have iPhones, Apple's service units – which include the App Store, Apple Music and iCloud – have experienced spectacular growth in recent quarters. Service revenues increased 31% to US $ 9,500 million, the second consecutive quarter with a 31% increase.