Apple Inc. (NASDAQ:AAPL)'s Revenue Grows 16%


It is unclear how many new users of Apple Pay became active users: that is, began to make transactions through the platform, as the company does not report user numbers or transaction volume for the service.

Regardless, today's post-earnings upside has short-term Apple call options pricing in remarkably high volatility expectations, compared to their put counterparts.

The iPhone X is the company's best-selling phone, Apple chief executive Tim Cook said in a statement. The smartphone sector saw shipments fall 2pc in the past year, so it must evolve beyond its reliance on a device that still accounts for more than 60pc of revenue.

While there has not yet been a tariff on devices such as Apple's iPhone, Apple CEO Tim Cook last week travelled to Washington to meet with US President Donald Trump at the White House to discuss trade matters. Purchases from the App Store hit an all-time revenue record in March, while paid subscription for Apple Music surpassed the 40 million mark. Shares jumped 4% in early trading. Revenue stood at $61.14 billion finishing in-line with the $61.15 billion prediction that analysts had made.

Apple has an installed base of 1.3 billion gadgets, but many play competitors' entertainment.

Instead, Apple's smartphone revenue went up to $38 billion, a 14 percent increase.

The company sold 52.2 million iPhones in Q2, 3% more than the 50.8 million it sold a year ago.

The company's net income for the second quarter was United States dollars 13.8 billion, up from USD 11 billion a year ago. Corundum Group Inc. now owns 2,242 shares of the iPhone maker's stock valued at $346,000 after purchasing an additional 299 shares in the last quarter.

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According to Zacks, analysts expect that Apple will report full-year sales of $259.54 billion for the current financial year, with estimates ranging from $253.19 billion to $267.79 billion.

His comments follow a positive quarterly update, in which the tech giant announced a dividend hike and a $100 million share buyback scheme following a strong three months to the end of March (representing the company's fiscal second quarter).

That's one major takeaway from Apple's earnings report on Tuesday.

Away from the core iPhone business, Apple reported record services revenue of $9.2 billion, a 31 percent growth rate year-on-year and a handy beat on analysts' $8.3 billion forecast.

After a solid quarter that quashed most concerns about a slowdown, eyes will now turn to the next generation of iPhones to be launched in September.

The predictions were driven by suppliers reporting weak demand for high-end handsets, and falling Chinese demand for iPhones in favour of local suppliers. It's a strong proof that Apple was right all along about its $1,000 phone.

However, the $999 starting price of iPhone X appears have been too high for some consumers. But Apple firmly believed that it could still sell a ridiculously expensive phone by offering an entirely new design and innovative features such as Face ID and Animoji. Apple performed well on all fronts, but the anniversary iPhone wasn't the kind of blockbuster Apple hoped it would be. The figure of $728 came in under the $740 expected by analysts and would seem to indicate that the iPhone X did not sell as well as expected.