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Apple sold 40.4M iPhones in Q3 2016; Beat Wall Street expectations

by Todd Haselton | July 26, 2016July 26, 2016 1:39 pm PST

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Apple just reported its fiscal third quarter 2016 earnings, noting that it sold 40.4 million iPhones during the quarter. That figure beat analyst estimates, as did its $42 billion in revenue during Q3, though unit sales were down from 47.5 million iPhones sold during Q3 2015.

Apple saw iPhone growth in Russia, Brazil and India, all markets where Apple has worked to gain market share. However, sales also dropped off quarter-on-quarter and year-over-year in China from $1.2 billion in sales to $8.85 billion in sales, which might worry some investors, particularly those who are looking for growth in China, home to the world’s largest cellphone market.

Some other noteworthy figures: Apple sold 9.95 million iPads, which is up 7 percent. Also, the company sold 4.25 million Macs, which missed analyst expectations of 4.4 million Macs sold but again shows the decline in computer sales. Worse, it doesn’t help that Apple hasn’t updated its MacBook Pro and other computers with new processors or features in quite some time.

Shares of Apple are trading up about 5 percent at $101 after hours.

BI

Todd Haselton

Todd Haselton has been writing professionally since 2006 during his undergraduate days at Lehigh University. He started out as an intern with...

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