Apple Sells Fewer Smartphones but Compensates with Higher Revenues in Services
Apple (Apple) reported revenue of $ 53.8 billion in the third quarter. The profit of the American company is 10 billion, which is a 13% decline, but exceeds market expectations, France Press reported.
The company stemmed some of its drop in sales to China, BBC reported.
Apple branded smartphone sales were down from $ 29.4 billion to nearly $ 26 billion, which is less than analysts' estimates.
But on the other hand, revenue from services (ApplePlay, AppStore, iTunes, Apple Music, iCloud, etc.) increased 15 percent in one year to $ 11.5 billion, The company said in a statement yesterday. The company's shares rose 4.6 percent in e-commerce after the New York Stock Exchange closed - a sign that investors are trusting Apple's turn.
Financially dependent on the iPhone - which generates nearly half of its revenue - the tech giant has begun diversifying into the service industry. For the fourth quarter (July-August-September), Apple estimates a turnover of between $ 61 and $ 64 billion.
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