This iPhone 8 Rumor Might've Been Debunked With New Apple Earnings Report

This iPhone 8 Rumor Might've Been Debunked With New Apple Earnings Report

Apple's earnings climbed 12 percent to $8.7 billion in the company's latest quarter amid rising demand for iPhones while the iPad snapped out of almost four-year sales slump.

The company posted a strong revenue gain over a year ago, even as iPhone sales accounted for the smallest percentage of Apple's total revenue than they have in the preceding 12 quarters-roughly 55%, compared with closer to 70% in some recent quarters. The company said it expects to make between $49 billion (roughly Rs. 3,14,198 crores) and $52 billion (roughly Rs. 3,33,452 crores) in its next, crucial sales quarter.

iPhone sales for the quarter hit 41 million, missing expectations for sales of 41.1 million. The company posted revenue of $45.4 billion.

Market analysts had predicted revenue of around $44.95bn (£34bn).

The earnings report comes ahead of what will be a pivotal quarter for Apple as the company reportedly gears up to launch a new iPhone.

Releasing the new iPhones in mid- to late September produces a few weeks of revenue that are included in the company's fiscal fourth-quarter results. That's the first such sales growth for iPads in four years.

Reports based on leaks from Apple's supply chain indicate that the high-end phone will have an edge-to-edge, super-sharp OLED screen and may have a fingerprint reader embedded in the glass. The revolutionary smartphone is the company's biggest revenue driver, and Apple even recently discontinued the iPod Nano and iPod Shuffle. The Company's products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.

Leading the way was Apple's iPad sales, which were up 15 percent from previous year.

The Mac and iPad lines got a lift from a number of recent product introductions, and growth of the categories was a marked contrast to their sluggish performance throughout much of 2016.

Apple reported improved sales growth in its fiscal third quarter to June, with revenue up 7 percent to United States dollars 45.41 billion, at the top of its forecast range. When analysts asked CEO Tim Cook about the forecast, however, he said the company doesn't comment on "anything that's not announced".

Apple stock jumped more than 6% in after-hours trading to 159.30 on the stock market today, which would be a record high if it holds.

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