Apple posts strong 3Q, provides upbeat forecast

SAN FRANCISCO — Apple’s earnings climbed 12 per cent to $8.7 billion in the company’s latest quarter amid rising demand for iPhones while the iPad snapped out of nearly four-year sales slump.

Revenue increased 7 per cent from last year to $45.4 billion.

The fiscal third-quarter results announced Tuesday exceeded analysts’ projections for the period spanning from April to July 1.

Just as importantly, Apple predicted revenue for its current quarter ending in September will range from $49 billion to $52 billion. That’s better than Apple’s performance last year when its popular line of iPhone 7 phones came out.

The upbeat forecast is likely to ease concerns that production problems might delay the release of Apple’s next-generation iPhone, which typically comes out in late September. That model is expected to boast a higher-quality screen and several other new features.

If the release of the next iPhone was going to be delayed until October or even later, analysts were expecting Apple to lower its revenue projections for the current quarter to below $45 billion.

Luca Maestri, Apple’s chief financial officer, declined to comment on the timing of the next iPhone during an interview with The Associated Press.

Besides a bigger and better screen, the next iPhone is expected to include wireless charging and facial recognition technology to unlock the device, based on software coding that Apple mistakenly leaked.

People are still snapping up the iPhone 7 and iPhone 7 Plus that came out last September, according to Maestri. He said those models are the main reason Apple sold 41 million iPhones in the past quarter, a 2 per cent uptick from last year.

In a long-awaited turnaround, Apple sold 11.4 million iPads in the quarter, a 15 per cent increase from last year. It’s the first time Apple’s quarterly sales of iPads have improved from the previous year since the final three months of 2013. Maestri cited Apple’s efforts to sell more iPads in classrooms as the main reason for the comeback.

_

Just Posted

Castor murderer vows to fight conviction

Jason Klaus tells courtroom he loved his family who were murdered in December 2013

Advocate poll shows another hospital wanted in Red Deer

Over 50 per cent of voters support second hospital

Olds RCMP has new detachment commander

Staff Sgt. Jim MacDonald now on the job

Off-highway vehicles recovered on Sunchild

Rocky Mountain House RCMP notifying owners

WATCH news on the go: Replay Red Deer Jan. 21

Watch news highlights from Red Deer and Central Alberta

DJ Sabatoge and TR3 Band kick off Sylvan Lake’s Winterfest 2018

Central Alberta’s youngest DJ will open for TR3 Band kicking off Town… Continue reading

Two Canadians, two Americans abducted in Nigeria are freed

Kidnapping for ransom is common in Nigeria, especially on the Kaduna to Abuja highway

WATCH news on the go: Replay Red Deer Jan. 21

Watch news highlights from Red Deer and Central Alberta

Liberals quietly tap experts to write new paternity leave rules

Ideas include creating an entirely new leave benefit similar to one that exists in Quebec

Insurers say Canadian weather getting hotter, wetter and weirder

Average number of days with heavy rain or snow across Canada has been outside norm since spring 2013

Are you ready for some wrestling? WWE’s ‘Raw’ marks 25 years

WWE flagship show is set to mark its 25th anniversary on Monday

VIDEO: Thousands join women’s march events across B.C.

Today marks one year since the first Women’s March on Washington

In photos: Get ready for Western Canadian Championships

Haywood NorAm Western Canadian Championships and Peavey Mart Alberta Cup 5/6 start… Continue reading

Most Read


Five-day delivery plus unlimited digital access for $185 for 260 issues (must live in delivery area to qualify) Unlimited Digital Access 99 cents for the first four weeks and then only $15 per month Five-day delivery plus unlimited digital access for $15 a month