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Apple Q3 Earnings: iPhone Sales Continue To Slide, But Apple Beats Estimates (bgr.com) 54

An anonymous reader quotes a report from BGR: Apple on Tuesday announced fiscal third-quarter earnings of $1.42 per share, or $7.8 billion in net income, on sales totaling $42.4 billion. That compares to a net profit of $1.85 per share in the same quarter last year, while revenue slid from the Q3 record of $49.6 billion that Apple set in fiscal 2015. Ahead of Apple's report, analysts were expecting EPS to come in at $1.39 while revenue was seen dropping to $42.1 billion, right in the middle of Apple's guidance of between $41 billion and $43 billion. iPhone sales in fiscal Q3 2016 totaled 40.4 million units, down from the 47.5 million iPhones the company sold during the June quarter last year, which was also a third-quarter record. Wall Street's consensus for this past quarter was 40 million units. The company said it expects between $45.5 billion and $47.5 billion in sales for the fiscal fourth quarter. The only part of Apple's business that's really growing is its mobile apps and online services. The company reported a 19 percent sales jump for the segment that includes iTunes, Apple Music, the App Store and services like Apple Pay and iCloud storage. "That segment produced nearly $6 billion in sales -- more than Apple pulled in from quarterly sales of either iPad or Macs," reports ABC News.
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Apple Q3 Earnings: iPhone Sales Continue To Slide, But Apple Beats Estimates

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  • Maybe they can "invent" Angry Bird Go and pull their shares up like Nintendo did. That works, right?
  • wander Wall Street for percentages
  • This reminds me of an old Apple saying from the '90's. "We suck less." (than we were expected to)
    • by amiga3D ( 567632 )

      Hey, they're doing better than microsoft.

      https://www.microsoft.com/en-u... [microsoft.com]

      • Re:Reminds me... (Score:4, Interesting)

        by msauve ( 701917 ) on Tuesday July 26, 2016 @08:05PM (#52586565)
        Microsoft is the new IBM. Apple is the new Microsoft. Google is the new Apple. Facebook is the new Google, but why is a mystery.
        • Microsoft is the new IBM. Apple is the new Microsoft. Google is the new Apple. Facebook is the new Google...

          ...Tencent is the new Facebook.

      • by tomhath ( 637240 )
        Apple's revenue is higher than Microsoft's, but Apple's dropped 14% versus MS 5% drop. Neither looks all that great.
        • Re:Reminds me... (Score:5, Insightful)

          by amiga3D ( 567632 ) on Tuesday July 26, 2016 @11:08PM (#52587369)

          I don't know. A lot of companies would like to make 7.8 billion dollars in one quarter. What other computer manufacturer made that kind of money in Q3? Sure, they didn't make the money they did last year but man, look at how stupendous last year was for them. You can't do that every year, it's a tough act to follow.

          • Apple's not a computer manufacturer. If you went by just their computers, they'd be tiny (Dell is about 3X the revenue of Apple's computer division). Apple is a phone/tablet-consumer electronics company that happens to sell a few computers. They do that very well; Samsung is one of the few consumer electronics companies that makes more revenue and profit than Apple, but there are few and far between.
            • by amiga3D ( 567632 )

              According to this...

              https://en.wikipedia.org/wiki/... [wikipedia.org]

              Apple is 5th. That's computers only, no mobile devices. I can't find q3 results for samsung but they were around 7 billion in q2. I'd have to say Samsung is about apple's only real competition. I liked their phones until recently. I own an S5 now although when my wife needed a new phone she decided on an LG. She was going to get another note to replace her note 3 but didn't like the changes.

            • Apple's not a computer manufacturer.

              Yeah, that's why they appear on the top 5 computer makers list - because they don't actually sell any.

  • Coulda been worse (Score:1, Insightful)

    by Tough Love ( 215404 )

    Market relief because sales collapse is not quite as fast as anticipated. Price back to a few bucks lower than three months ago. Downward march and continued loss of market share to Android expected to continue, this ends at zero net cash. Apple's problem: phones are overpriced and only your mom wants one. Apple's best bet for the long term is to introduce an Android phone.

    • Market relief because sales collapse is not quite as fast as anticipated. Price back to a few bucks lower than three months ago. Downward march and continued loss of market share to Android expected to continue, this ends at zero net cash. Apple's problem: phones are overpriced and only your mom wants one. Apple's best bet for the long term is to introduce an Android phone.

      Wow, AAPL fan(atic)s out with bitter mod points.

      • No, you are just stupid. They sold 40.4 million phones in 3 months. Everyone knows the iPhone 7 is right around the corner, or the sales would have been a lot higher. They made $7.8 billion in cash in 3 months. Everyone upper middle class and up has an iPhone at this point.
        • Hi there! Upper class (not middle class - top 10%) here, no iPhone! And checking around - I'd say there's a lot of Samsung phones I see in the hands of upper middle and upper class folks. My family is pretty much Apple-free... And with Apple's continued China slide (and essentially zero presence in India), doesn't look like they're going to continue the growth they've enjoyed. Saturated market, high prices, heavy competition - not good for the long term.
    • by antdude ( 79039 )

      Prove it that my mom wants one. She still prefers her old dumb phone. :P

    • Apple's best bet for the long term is to introduce iPhone 7.

      FTFY

  • by CanadianMacFan ( 1900244 ) on Tuesday July 26, 2016 @09:42PM (#52587007)

    Their primary markets are saturated and they aren't bringing out any must have features on the new iPhones so many people are keeping their existing ones longer. It will get worse if they do go to a three year cycle between major redesigns as it will encourage people to hang onto their phone longer.

    I think part of the problem is the drive to make phones thinner all of the time. If manufacturers added battery capacity then they could be adding new functionality or greatly improving the sensitivity of the existing sensors. Heck, just improving the battery life of the phone would cause many people to upgrade.

  • One wonders why the SEC has never looked at Apple for continually releasing low ball guidances then 'beating' them.
    • by gtall ( 79522 )

      Errr...because most companies do this. Those legions of bean counters pretty much know their markets. The one thing they (and everyone else) are blind to are black swans.

  • Why is this a surprise? Back in the day of carrier subsidies, many people refreshed their devices every two years and took another smartphone for ~$200, at least in the USA. When you're paying 600-750 for a new iPhone - why would you do it except when absolutely needed?

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