Apple announces declining revenue for FY17 Q3, only 41 million iPhones sold

-- 02 August,2017

Apple has announced that FY17 Q3 had generated revenue of $45.4 billion and $8.72 billion profit. The company revealed that it had sold a total of 41 million iPhones, 11.4 million iPads, and 4.29 million Macs.

This means from the previous quarter Apple’s financial results actually declined, though they increased year-over-year by 7 per cent. Furthermore, services revenue has experienced a growth of over 17 per cent which marked an all-time quarterly record from the company.

Specifically, Apple’s FY 2017 revenue and profit dropped form $52.9 billion and $11.03 billion, respectively, with sales of iPhones, iPads, and Macs also declining from 50.7 million, 8.92 million, and 4.19 million.

However, Apple states that it is very pleased with how its units performed, especially because sales increased year-over-year from $42.4 billion revenue and $7.8 billion profit. In the same quarter the year before, Apple sold 40.4 million iPhones, 9.9 million iPads, and 4.2 million Macs.

Apple’s CEO Tim Cook had praised the company for its performance in the third quarter and has forecasted continued growth in the next financial quarter. Profit for the FY17 Q4 has been estimated to be anywhere between $49 billion and profit margins between 37.5 per cent and 38 per cent.

“With revenue up 7 percent year-over-year, we’re happy to report our third consecutive quarter of accelerating growth and an all-time quarterly record for Services revenue,” said Tim Cook, Apple’s CEO. “We hosted an incredibly successful Worldwide Developers Conference in June, and we’re very excited about the advances in iOS, macOS, watchOS and tvOS coming this fall.”

Although Apple does expect revenue to grow in the current quarter, it is important to note that a more substantial boom is likely to be recorded in the next quarter, mostly because of the arrival of the new iPhones due in September.

Furthermore, the iPhone 8 is also expected to be unveiled in September, and is more likely to hit the shelves later this year, which means that the sales it generates would only be a part of the next quarter. Analysts have predicted that the iPhone 8 to be the best-selling iPhone in history, despite its starting price tag of approximately $1,200.

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