Apple sees positives, despite slump in iPhone sales
- 8 years ago
Apple Inc. just had another bad quarter.
The company’s profit dropped in the third quarter of this year while sales of its flagship smartphone also slid during the period.
Even worse, Apple is forecasting another decline in revenue next quarter.
Yet, the tech giant’s stock rose on the earnings report, signaling that investors are looking at the latest earnings results in a way which is easing their concerns about the company’s growth.
The world’s largest company by market value said it sold 40.4 million iPhones in the three-month period ending in June, down from 47.5 million units a year earlier.
The latest slump in unit sales followed a decline in March, which broke the company’s eight-year run of growing iPhone sales.
However, the third quarter’s figure slightly beat the average analyst forecast of 40 million iPhones, according to research firm FactSet.
The company’s profit dropped in the third quarter of this year while sales of its flagship smartphone also slid during the period.
Even worse, Apple is forecasting another decline in revenue next quarter.
Yet, the tech giant’s stock rose on the earnings report, signaling that investors are looking at the latest earnings results in a way which is easing their concerns about the company’s growth.
The world’s largest company by market value said it sold 40.4 million iPhones in the three-month period ending in June, down from 47.5 million units a year earlier.
The latest slump in unit sales followed a decline in March, which broke the company’s eight-year run of growing iPhone sales.
However, the third quarter’s figure slightly beat the average analyst forecast of 40 million iPhones, according to research firm FactSet.