Apple: iphone sales continue to increase

(CercleFinance.com) - Apple has sold more iPhones than expected at the start of 2018, and has provided encouraging forecasts for the next quarter.


The group has also announced a new share buyback program and a sharp dividend increase. Pre-market trading suggests that the share will rise by 3% when Wall Street opens later today.

At the end of Q2 of its non-calendar 2017/2018 fiscal year, i.e. from January to March, the Cupertino based technology group posted sales of 61.1 billion dollars (+16% y-o-y). Over the period, 52.2 million iPhones, which represents 62% of sales, were sold, representing a 2.9% increase over one year. Sales in Greater China rose by 21.4% to 13 billion dollars, representing over one-fifth of total billings.
Operating profit rose by 12.7% to nearly 16 billion dollars, with net income up 25.3% at 13.8 billion dollars (2.73 dollars per share). Tim Cook, Apple's CEO, welcomed the best second quarter in the group's history.

Apple's accounts were in line with its expectations, which the company rarely misses. More importantly is that the forecast for Q3 sales, which exceeds 50 billion dollars, is better than feared, analysts at UBS said this morning.



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