Apple is predicting a monster holiday quarter
Apple on Thursday turned in yet another solid quarter of earnings. For the three-month period ending September 30, Apple generated $52.6 billion in revenue, an increase of 12 percent compared to the same period a year ago.
Quarterly profit checked in at $10.7 billion, or $2.07 per diluted share – a 24 percent increase year-over-year.
For the quarter, Apple sold 46.7 million iPhones, up from the 41 million sold in the previous quarter and the 45.5 million it sold in the year-ago period. Sales of the iPad slipped slightly compared to last quarter, from 11.4 million to 10.3 million, but were still better than the 9.3 million sold last year. Mac sales jumped up to 5.4 million units, besting the 4.3 million units sold last quarter and the 4.9 million units sold a year ago.
Looking at the full fiscal year, we see that Apple generated $229.2 billion in revenue with a net profit of $48.4 billion. For comparison, Apple in the previous year generated $215.6 billion in revenue and a profit of $45.7 billion.
For the upcoming quarter, Apple is forecasting revenue of between $84 billion and $87 billion with a gross margin between 38 percent and 38.5 percent. Most observers, however, will likely be curious to see how many iPhones the company moves during the holiday season. Sales of the iPhone 8 and iPhone 8 Plus have reportedly been low but could be evened out by demand for the iPhone X.
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