Home » IT

Apple beats expectations in latest financial results

30 August, 2018, 20:40 | Author: Joanna Little
  • Apple iPhone X

Revenue rose 17 percent to $53.27 billion, also exceeding Street forecasts for $52.37 billion.

Shares of Apple rose 4 percent after-hours Tuesday.

Apple sold 41.3 million iPhones, only 1% more than in the same quarter a year ago.

Despite the trade war, China remains one of Apple's best markets, posting double-digit revenue growth in the country for the fourth quarter in a row, Cook said.

To hit the trillion-dollar market value, Apple shares would have to climb about five per cent more.

Analysts were eager for news about how the company is riding out trade turbulence between the United States and China. CEO Tim Cook said that while the company's products hadn't been hurt by tariffs imposed so far, Apple is still examining the impact of proposed US tariffs on $200 billion worth of Chinese goods.

Ives expects three new iPhones to be released in the next three to six months, which should "capture the underlying demand/upgrades among customers that have chose to bypass the 8/8+/X cycle this past time around, with price points and features that catalyze fence sitting iPhone customers onto their next smartphone". Apple typically launches new iPhone models at the end of the quarter, in mid-September.

More news: Sacha Baron Cohen’s ‘Who Is America?’ airs final episode without Palin interview

Globally, higher selling prices for devices like the iPhone X and iPhone 8 pleased Wall Street analysts.

"iPhone X shows that when you deliver a great innovative product there are enough people out there that would like that and it can be a very good business". Netflix and Facebook struggled after reporting earnings earlier this month (with Facebook losing a one-day record $124 billion in market value), while reports from Amazon and Google boosted their share prices.

Research firms IDC and Strategy Analytics this week reported that the Cupertino tech giant lost its second-place spot in the global smartphone market to China's Huawei during the second quarter of 2018.

A team at 9To5Mac have found references to a second sim slot on iPhones hidden away in the code of the latest iOS 12 developer beta 5.

Apple has managed to shine, despite bruises to its image that included being accused of keeping young people addicted to smartphones, slowing performance of older iPhones to motivate upgrades and sidestepping taxes by nestling cash in offshore havens.

Services: Investors have been watching closely as Apple ups its software and services revenue - a catch-all category that includes the App Store, Apple Care, Apple Pay, iTunes and cloud services. Cook said he's "optimistic" the countries will work out their differences.

"We couldn't be happier with how things are going given the momentum we are seeing across the board", Cook said.


  • Serena Williams moves into third round, will take on sister Venus

    Serena Williams moves into third round, will take on sister Venus

    Getty Images via Getty Images Venus Williams pictured during practice in 1991. She paired it with NikeCourt Flare trainers and fishnet compression tights.
    4 takeaways from the U.S.-Mexico trade deal

    4 takeaways from the U.S.-Mexico trade deal

    NAFTA reduced most trade barriers between the three countries. "Our farmers are going to be so happy", Trump said. President Trump made the announcement and brought Mexican President Enrique Peña Nieto onto a conference call.
    Trump suggests US close to 'big' trade agreement with Mexico

    Trump suggests US close to 'big' trade agreement with Mexico

    Lopez Obrador opposed Pena Nieto's energy reform, and the issue is divisive within his own camp. A representative of the U.S. trade representative did not respond to a request for comment.
  • Manchester City’s potential Champions League opponents ahead of Thursday’s draw

    Manchester City’s potential Champions League opponents ahead of Thursday’s draw

    Jurgen Klopp will be hoping for a similar run this season, albeit they would prefer to lift the trophy at the end of it. Few teams will fancy taking on the Reds ahead of the draw which will be held today (30/8) at 5pm.
    John McCain’s single most poignant paragraph on Trumpism

    John McCain’s single most poignant paragraph on Trumpism

    Chuck Schumer, formally requested flags at all govenrment buildings remain at half-staff in McCain's honor through his internment. White House aides said it is unclear whether Trump will go to Capitol Hill, where McCain is to lie in state on Friday.
    Volkswagen investment plans blocked by Tesla

    Volkswagen investment plans blocked by Tesla

    Musk had hired advisers including Goldman Sachs Group Inc. and Silver Lake as well as Morgan Stanley. According to the report, the new institutional investors would want greater control of the company.
  • US Senator and war veteran John McCain dies at 81

    US Senator and war veteran John McCain dies at 81

    He suffered beatings and torture so severe that, even at the end of his life, he was unable to lift his arms above his shoulders. Senate Minority Leader Chuck Schumer has called for the Senate to rename the Russell Senate Office Building after McCain.
    Cyberpunk 2077 Gameplay Demo Revealed

    Cyberpunk 2077 Gameplay Demo Revealed

    While this re-reveal was welcome news to long-time fans, many still wanted to see the game in action. Connor's love for gaming starts with the unboxing of a Playstation 2 with a copy of Kingdom Hearts.
    Nazanin Zaghari-Ratcliffe held in Iran released temporarily

    Nazanin Zaghari-Ratcliffe held in Iran released temporarily

    The campaign thanked "all those involved in making this possible in Tehran and London , and the new foreign secretary". He said there was some indication that this would happen, but there had been a number of "false dawns".
  • Over 99 per cent of demonetised notes back with RBI

    Over 99 per cent of demonetised notes back with RBI

    Rahul Gandhi accused Prime Minister Narendra Modi's demonetisation move failing to eradicate black money. The RBI says the indent for 2017-18 was higher by 9.1 per cent as compared to past year .
    Shooter at Madden Tournament Was Participant

    Shooter at Madden Tournament Was Participant

    The bar was livestreaming the gaming competition when the gunfire started, according to video shared on social media . President Donald Trump has been briefed and is monitoring the situation in Jacksonville, the White House said.
    Popular YouTuber Kills Self, Two Others In Fiery Crash

    Popular YouTuber Kills Self, Two Others In Fiery Crash

    Just before the fatal crash his same McLaren was seen crashing through the gates of Ashley Falls Elementary School. The pair were later identified as 43-year-old Aileen and Aryana Pizarro , who was 12.


Meghan Markle's Givenchy Wedding Dress Is About To Go On Public Display
The event raised £300,000, which will be used to improve the lives of children affected by HIV in Africa. The couple was accompanied by the show's creator Lin-Manuel Miranda and his wife.

Trump says China making things 'much more difficult' with North Korea
South Korean President Moon Jae-in on Thursday (Aug 30) nominated the head of the Joint Chiefs of Staff as defence minister. But in his tweets, Trump also signaled that the USA has its own military means of exerting pressure on Pyongyang.

Replacing McCain in the Senate is political balancing act
Twitter users also bashed Trump for sharing an Instagram post about McCain's death that featured a picture of himself. Mr McCain was well-respected across the political spectrum in the U.S. for both his military and political service.

Man Utd 0-3 Tottenham: Jose Mourinho tells media, 'Respect, respect, respect'
But the tension was bubbling and by the time he reached his press conference, he was ready to explode. Jamie Redknapp has warned Jose Mourinho that the "writing is on the wall" at Manchester United .

Myanmar military leaders should be tried for genocide against Rohingya
Facebook also said it had removed pages that the US government had previously named as Russian military intelligence services. The court had been due to deliver a verdict on Monday, but at a brief hearing postponed the hearings until September 3.

Chelsea manager Maurizio Sarri surprised by Newcastle United's tactics
Last season we were the best team in the bottom 10 and we hope to do the same again if we can. I have to give credit to my players for the effort they have (put in).

South Korea Braces for Typhoon Soulik, While Typhoon Cimarron Aims at Japan
The U.S. has been calling on China to strictly enforce wide-ranging United Nations sanctions targeting North Korea's economy. However, some analysts suggested Trump's move may also be a negotiating ploy.

HBO Promo Reveals First Footage for Game of Thrones Season Eight
The clip was released as part of HBO's 100-second promotional video featuring all the big shows it has lined up for 2019. Joe continued: "We're going to be toiling away on season eight until May of 2019, so it's eight or nine months away".

White House flag no longer at half-staff after McCain's death
Instead, both the president and Vice-President Mike Pence offered their condolences to the senator's family via Twitter. White House flag back at full staff today says it all.

Drug Tunnel To Mexico Found Under Abandoned Arizona KFC
Lopez had allegedly been spotted removing the boxes from inside the old KFC restaurant building which he had bought in April. This chamber ran roughly 180m under the Mexican border, coming out at a home in San Luis Rio Colorado, Sonora, Mexico.