Apple sold more iPhones than expected – Milenio.com

Apple sold more iPhones than Wall Street expected in the fiscal third quarter and forecast earnings in the current quarter would exceed the estimates of many analysts, assuaging fears that demand for the most important product of the company has touched your ceiling.

Apple shares rose more than 7 percent to 103 000 $ 57 in after-hours trading after learning the results.

the most valuable company in the world among publicly traded reported that 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 research firm market FactSet StreetAccount.

iPhone sales declined for the second consecutive quarter, causing a drop in total company revenues of 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 of what was prompting falls, “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 billion 800 million, while revenue of 42 billion 360 million dollars beat estimates analysts 42000 90 billion, according to Thomson Reuters I / B / E / S.

commercial services of Apple, including App Store, Apple Pay, iCloud and other services generated almost 6 billion in revenue, up 18.9 percent over the previous year.

the company forecast revenues for the fourth quarter between 45 000 and 47 000 500 000 000 500 million. Wall Street analysts on average estimated income 45 000 710 million, according to Thomson Reuters I / B / E / S.

MRF