Apple sells more iPhones than expected and stock market rises strongly – Yahoo Finance Spain

By Julia Love and Anya George Tharakan

(Reuters) – Apple Inc sold more iPhones than Wall Street expected in the third fiscal quarter and forecast revenue in the current quarter would exceed the estimates of many analysts, assuaging fears that demand for the most important product of the company has peaked.

Apple shares rose more than 7 percent, to $ 103.57 in after-hours operations after the results.

the most valuable company in the world among publicly traded said it sold 40.4 million iPhones in the third quarter, 15 percent less than the previous year but slightly above the average forecast of analysts of 40.02 million, according to market research firm FactSet StreetAccount.

iPhone sales decreased for the second consecutive quarter, causing a drop in total revenue of the company from 14.6 percent in the quarter ended June 25.

the demand for phones Apple has declined in China, partly because of the economic uncertainty in the country, and has also been cooled in more mature markets because people tend to keep their phones longer.

“China was a major disappointment and I am eager to learn more what was what caused the fall, “said Patrick Moorhead, an analyst at Moor Insights & amp; Strategy. “Samsung and Huawei are much more competitive now than a year ago, and the Chinese economy is not going well,” he said.

Moorhead said, however, that the increase in service revenues, which include App Storey and iCloud- was a “point very prominent for Apple”.

iPhone sales, which account for about two thirds of total company revenues, were down last quarter for the first time since the presentation of the device in 2007.

the net profit of Apple fell 27 percent to 7.800 million, while revenues of 42,360 million dollars exceeded analysts’ estimates of 42,090 million dollars, according to Thomson Reuters I / B / E / S.

commercial services of Apple, including App Store, Apple Pay, iCloud and other services generated almost 6,000 million dollars in revenue, 18.9 percent more than the previous year.

the company forecast revenue for the fourth quarter between 45,500 million and 47,500 million dollars. Wall Street analysts on average estimated revenues of $ 45,710 million, according to Thomson Reuters I / B / E / S

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