Tuesday, 27 June 2017

Apple shows its mettle ahead of holiday season

By Ian Sherr, Dow Jones Newswires
Tuesday 29 October 13

Smartphone maker's profit falls again, but it expects gross margin to stabilise in coming quarter.

Apple Inc. reported a third consecutive quarter of declining profits, but showed signs that both prices and profit margins are stabilizing despite heightened competition for its iPhone and iPad. The company said it sold 33.8 million iPhones in the fourth fiscal quarter, ended Sept. 28, up 26% from the same period a year earlier. The average selling price of an iPhone declined 6.6% from a year earlier, but less than 1% from the preceding quarter. Revenue from the iPhone rose 17% from a year earlier and represented more than half of Apple's quarterly total of $37.5 billion, which was up 4.2% from a year earlier…

Apple Inc. reported a third consecutive quarter of declining profits, but showed signs that both prices and profit margins are stabilizing despite heightened competition for its iPhone and iPad. The company said it sold 33.8 million iPhones in the fourth fiscal quarter, ended Sept. 28, up 26% from the same period a year earlier. The average selling price of an iPhone declined 6.6% from a year earlier, but less than 1% from the preceding quarter. Revenue from the iPhone rose 17% from a year earlier and represented more than half of Apple's quarterly total of $37.5 billion, which was up 4.2% from a year earlier…

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