July ended well for Apple as their earnings for the third quarter increased more than 1.6 percent from last year and fall in line with the analysts estimated earlier predicted. And the third quarter rose 7.2 percent to $45.4 billion compared with the average projection of $44.9 billion and high sale on the iPhones this year was recorded for more than 41 million iPhones as the quarter ended.
Apple Inc. gave their revenue earning report that highlighted resilient demand for its iPhone ahead of the launch of its new models which will be out soon by fall this year, and will go on sale by mid of September which will produce a few weeks revenue to be added to the fourth quarter results.
However some analysts have reduced their expectations toward Apple earnings estimates but with the report published by Apple on the increase in sales from its iPhones , it calmed the fears from most analysts that Apple sale for the quarter was bad but instead the report shows that the sales of the iPhones has increased the revenue of the company.
The revenue increased from $49 billion to 52 billion in the last three months which was far from predicted by the analysts, the analysts had predicted and estimated it to be $49.1 billion, in an interview with Bloomberg television the chief executive officer Tim Cook said “we have put everything we know into coming up with the guidance and we really like what we for the beginning of the back to school season”.
Shares have climbed about 30 per cent this year and 6 per cent in extending trading which finally closed at $150.05 in New York there by putting the stock on the course to open at a record today and there has been lots of activities going on App Store as every product grew, revenue rose to 7.2 percent from previous year, about 15 percent of more iPads were sold of which seem old of fashion but later went on high sale over the past three months.
The company has put allot in place to ensure that the old technologies get upgraded into better and more fabulous ones and put back on sale and the new technologies comes with a completely different design and features as they are currently working on a lot of different new technology which most will be out by September this year or later in the year.