Apple Earnings: iPhone Sales Up Even Before iPhone X Went On Sale

Image Vicky Leta  Mashable

Image Vicky Leta Mashable

The $28.85 billion revenue from iPhone sales accounted for almost 55 percent of total revenue, which rose 12.2 percent to $52.58 billion. This quarter's earnings will give a glimpse into the first few weeks of sales for the iPhone 8, one of Apple's newest devices.

When contacted, a representative from iWorld from Kamla Nagar said they did not have any iPhone X stock yet. During that quarter Apple sold 45.5 million iPhones, 9.27 million iPads, and 4.89 million Macs.

The good news is that Apple seems to be confident that it will be able to ship plenty of iPhone X devices, or possibly make up for any delayed orders with the iPhone 8.

But the numbers that most Apple watchers were focused on were those outlining what the company expects to see for the next quarter. That's up from 45.5 million at the same time past year after the iPhone 7 came out, but represents a step back from the same time in 2015, when Apple shipped 48 million iPhones during the quarter. The combo of new iPad Pro models alongside the affordable but excellent standard iPad led to 10.3 million tablets sold for Apple, up 11 percent year-over-year. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.87 per share.

Though the iPhone franchise is somewhat in limbo, there are other factors afoot for Apple.

Apple shook off production problems with its latest iPhone on Thursday to report a 19% rise in profits and record pre-sales of iPhone X, the day before its release. The company's net income for the quarter was $2.07 per diluted share.

Q1 revenue guidance: $84.9 billion expected by Thomson Reuters. While that only represents a 2% increase year-over-year, Apple's other products more than picked up the slack. Apple does not break out unit sales for Apple Watch but Cook said growth was over 50%.

Still, with a little reading between the lines, Apple's fiscal fourth-quarter performance may hint at whether consumers are waiting on the new phone to splurge during the all-important holiday season. Apple has been flirting with a trillion-dollar valuation, and had a value of $868 billion at market close.

Now all eyes are on the next quarterly result, which will have two months of sales of the X, and 3 months of the 8 and 8 Plus.

Apple has invested heavily in greater China - historically its third-largest market behind the Americas and Europe - and has a nascent customer base in India.

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