Contact Your Financial Adviser Money Making MC
26
October 2016
Marking
the third straight quarter of declining iPhone sales, Apple has posted
quarterly revenues of $46.9 billion and quarterly net income of $9 billion --
down nearly 9% from revenue of $51.5 billion and net income of $11.1 billion in
the year-ago quarter. The Total
Investment & Insurance Solutions
Announcing
the results for the fourth quarter of 2016 on Tuesday night, Apple said it sold
45.5 million iPhones, 9.3 million iPads and 4.9 million Macs in the fourth
quarter - a year-over-year decline of 5.2% for iPhones, 6% for iPads and a
massive 14% for the Mac, Engadget reported. The Total Investment & Insurance Solutions
International
sales accounted for 62% of the quarter's revenue.
"Our
strong September quarter results cap a very successful fiscal 2016 for
Apple," said Apple's CEO Tim Cook.
The Total Investment & Insurance Solutions
In
after-hour trading, Apple shares were down 2.8% to $114.99.
"We're
thrilled with the customer response to iPhone 7, iPhone 7 Plus and Apple Watch
Series 2, as well as the incredible momentum of our Services business, where
revenue grew 24% to set another all-time record," Cook added in a
statement. The Total Investment &
Insurance Solutions
For its
fiscal 2017 first quarter, Apple forecast revenue between $76 billion and $78
billion and operating expenses between $6.9 billion and $7 billion. The Total Investment & Insurance
Solutions
"We
are pleased to have generated $16.1 billion in operating cash flow, a new
record for the September quarter," said Luca Maestri, Apple's CFO. The Total Investment & Insurance Solutions
"We
also returned $9.3 billion to investors through dividends and share repurchases
during the quarter and have now completed over $186 billion of our capital
return programme," Maestri added.
The
fall in sales was mostly down to declining sales of the iPhone but the newly
launched iPhone 7 and 7 Plus may tilt the figures in favour of Apple in the
near future.
The
iPhone 7 went on sale from September 16. The current quarter's sales are likely
to benefit from Samsung's Galaxy Note 7 fiasco. The Total Investment & Insurance Solutions
Apple
is set to unveil new Mac computers on October 27.The Total Investment & Insurance Solutions
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