Apple announces better-than-expected Quarterly Numbers
Apple announced strong numbers for the last quarter as the company witnessed better sales for its flagship iPhone. However, Apple has given future guidance which is slightly lower than Wall Street expectations. Apple stock jumped by 2 percent in afterhours trading session. Apple registered strong sales for iPhone and Mac but the numbers for iPad were disappointing. Apple reported 2 percent rise in its quarterly earnings at $3.36 per share.
During the quarter, Apple shipped 78 million iPhones nearly 4 percent higher compared to the same quarter last year. The company sold 5.3 million Mac units and 13 million iPads. The sale of iPad has declined considerably from 16.12 million registered during the same quarter last year.
Talking about legal battle with Qualcomm, Apple CEO Tim Cook said, “Qualcomm withheld a billion dollars in payments they owed us, we felt like we had no choice, in terms of where it goes, we'll see. I don't like litigation so if there's another way that would be great, but at this point I don't see it.”
Apple is facing competition in China from local smartphone manufacturers in the Chinese market. Many smartphone models with amazing features are available at lower price compared to Apple’s iPhone.
Cook announced that Apple registered an all-time high revenue in India. Cook added that he is confident about the future performance of Apple in India. He also talked about investing more in India to improve the sales in the country further.
Apple has also registered growth in average revenue per user. Apple CFO Luca Maestri said, “Strong customer interest left us in supply/demand imbalance for several products this quarter.”
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