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Apple is also forecasting higher-than-expected revenue for the fall, typically launching new iPhone models, rebaduring a nervous tech sector that experienced sales last week in Facebook Inc.
Apple reacted to a stagnant global smartphone market by launching increasingly expensive phones and diversifying into services. Chief Executive Tim Cook credited "wearables", a category that includes wireless headphones and the Apple Watch, with increasing contributions as well.
And Apple used its stack of money to support the stock price, buy back $ 20 billion in stock "The lesson that the direction of Apple has drawn from the iPhone X, c & rsquo; Is that when you sell a smartphone for more than $ 1,000, you can sell fewer units and reap the financial benefits, "he adds. says badyst Thomas Forte of DA Davidson & Co.
Stocks rose 3.4% to $ 196.80 in after-hours trading. With a market capitalization of more than $ 900 billion, Apple ticks the title of the world's first billion-dollar company.
Apple sold 41.3 million iPhones in the third fiscal quarter, under expectations of 41.8 million units, the price reached $ 724, exceeding badysts' expectations of $ 694 , according to FactSet data. Apple's chief financial officer, Luca Maestri, told Reuters that customers were buying more expensive models and that the $ 999 iPhone X was the best seller of the quarter.
Apple achieved a turnover of $ 53.3 billion and $ 2.18 per share respectively, according to Thomson Reuters I / B / E / S.
The technology company the The world's most valuable company is also forecasting revenue of $ 60 billion to $ 62 billion for its fourth fiscal quarter, which will include early sales of soon-to-be announced phone models, exceeding badysts by $ 59.6 billion. Despite the pace, James Cordwell, an badyst at Atlantic Equities, said that high selling prices could worry investors because "there is a limit to how much Apple can grow the iPhone.
Apple's services include streaming music and video, where Apple faces competition from rivals including Spotify Technology SA
But many Apple services do not face strong rivals. Maestri told Reuters that Apple Care sales, the company's guarantee offering, were up 27 percent over last year, although the company did not disclose a dollar figure for sales.
Apple's top-selling products are not yet the subject of trade disputes between the United States and China, but President Donald Trump has threatened hundreds of billions of additional rights including categories of products have not yet been listed. Apple Watch, one of the growth drivers of Apple, is concerned with tariffs. Maestri told Reuters that the company's "wearable" businesses – including Apple Watch and its AirPods earphones – have generated $ 10 billion in revenue over the last 10 quarters and increased by 60% last year. quarter
"We are not able to catch up with the demand and continue to add capacity for the AirPods," said Maestri.
Apple's margins are facing pressures, like OLED displays that show brighter colors, in its products. The company said it was expecting gross margins of 38 percent to 38.5 percent in the fourth quarter, compared to 38.3 percent for badysts, according to Thomson Reuters I / B / E / S. Analysts are also closely monitoring Apple's operating expenses, which are increasing as its research and development costs exceed its revenue growth.
Services revenues reach $ 9.5 billion, exceeding badysts' forecasts by $ 9.1 billion. S. The turnover included $ 236 million dispute resolution such as Apple's long-standing dispute with Samsung Electronics Co. Ltd.
Apple expects operating expenses of $ 7.95 billion to $ 8.05 billion in the fourth quarter. to Thomson Reuters I / B / E / S
(Reportage of Stephen Nellis in San Francisco and Sonam Rai in Bengaluru, edited by Peter Henderson and Lisa Shumaker)
(This story was not edited by the staff of Business Standard and is generated automatically from a syndicated feed.)
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