Tuesday 19 March 2024
 
»
 
»
Story

Apple sees big customer response to iPhone 7.

Apple’s iPhone sales drop 5.2pc to 45.5m

SAN FRANCISCO, October 26, 2016

Apple said it sold 45.5 million iPhones during its fiscal fourth quarter ended September 24, 2.5 million fewer than a year earlier, refelcting a fall of 5.2 per cent.

Apple’s earnings came in at $9.01 billion, or $1.67 per share in the fourth quarter, down from $11.12 billion, or $1.96 per share in last year's fourth quarter, marking a 19 per cent decline.

The company’s revenue for the quarter fell 9 per cent to $46.85 billion. This was down from $51.50 billion last year.

Gross margin was 38 per cent compared to 39.9 per cent in the year-ago quarter. International sales accounted for 62 per cent of the quarter’s revenue.

“Our strong September quarter results cap a very successful fiscal 2016 for Apple,” said Tim Cook, Apple’s CEO. “We’re thrilled with the customer response to iPhone 7, iPhone 7 Plus and Apple Watch Series 2, as well as the incredible momentum of our Services business, where revenue grew 24 per cent to set another all-time record.”

“We are pleased to have generated $16.1 billion in operating cash flow, a new record for the September quarter,” said Luca Maestri, Apple’s CFO. “We also returned $9.3 billion to investors through dividends and share repurchases during the quarter and have now completed over $186 billion of our capital return programme.”

Apple’s board of directors has declared a cash dividend of $0.57 per share of the Company’s common stock.  – TradeArabia News Service




Tags: Apple | iPhone | income |

More Retail & Wholesale Stories

calendarCalendar of Events

Ads