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techkenyot.com November 20, 2018


Apple posts another record quarter, readies for crucial holiday period

04 November 2018, 07:45 | Hattie Nash

Apple Reports Fourth Quarter Results

Apple Q4 2018 Results: $62.9 Billion Revenue, 46.9 Million iPhones, 9.7 Million iPads Sold

Its fourth quarter results, covering the three months to October, showed Apple sold fewer iPhones than analysts had expected - nearly 47 million - but revenues and profits all smashed forecasts. At the same time, Apple said it would stop providing unit sales for iPhones, iPads, and Macs in fiscal 2019, a step toward becoming more of a services business.

It covers the first full months of sales for the new iphone range and the crucial holiday season, as it is described in the US.

Apple's disappointing earnings report has put the iPhone maker's $1 trillion market value at risk.

An overview of the performance of Apple in terms of revenue brought in geographically, and overall, is provided above.

Instead, Apple continues to try to focus investors on the strong sales growth for supplementary services, including Apple Music, Apple Pay and iCloud.

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Cook expressed hope Apple's retail foray into India will take place sooner than later, saying it "had really great productive discussions with the Indian government" on the matter. "Time for investors to adjust to the new disclosures", analysts from the firm said. He looked relaxed and in command in his crisp white oxford and quarter zip blue pullover, flashing a victory sign to photographers as he mingled with journalists and some celebs later in Apple's demo area. Save for the iPad, all other categories rose, led by other products (31 per cent) and iPhones (29 per cent). Revenue from Apple's services division, meanwhile, increased by a solid 17% compared to the September quarter of 2017.

"For the new Pilot program, Apple will only be offering repairs for vintage devices based on part availability", 9to5Mac notes.

The company registered $62.9 billion in revenue, an increase of 20% over the same period past year, and quarterly earnings per diluted share of $2.91, up by 41%.

Investors and analysts interpreted the accounting change as a sign that Apple's days of posting bumper hardware sales have come to an end.

Apple CEO Tim Cook also sought to reassure analysts during the conference call with an explanation that indicated the company expects to keep making more money even if iPhone sales should falter. Apple also says that moving forward it will release what it describes as "qualitative statements" about product sales at irregular intervals.

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A revenue forecast that fell short of the average analyst estimate at the midpoint and weaker-than-expected iPhone sales sent the stock tumbling in extended trading.

Apple sold 46.8 million iPhones, 9.6 million iPads, and 5.2 million Macs in the final quarter of 2018.

According to analysts, India pricing of the latest iPhone models - iPhone XS, XS Max and XR - is the highest globally, crossing.'1 lakh mark, after factoring in the import duty increase and the recent rupee depreciation against dollar.

Before Thursday, Apple shares had withstood a recent tech stock rout.

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