Ap­ple’s rev­enue, profit up as iPhone sales surge

China Daily (Canada) - - ACROSS AMERICAS - By AGEN­CIES

Ap­ple Inc re­ported high­erthan-ex­pected quar­terly rev­enue and profit as sales of iPhones surged 36 per­cent, driven by the launch of the 6S and 6S Plus mod­els last month.

Ap­ple’s sales in China nearly dou­bled to $12.52 bil­lion, ac­count­ing for nearly a quar­ter of its to­tal rev­enue.

The world’s largest com­pany by mar­ket value said on Tues­day that it sold about 48.05 mil­lion iPhones in the fourth quar­ter. An­a­lysts on av­er­age had ex­pected sales of 48.72 mil­lion iPhones, ac­cord­ing to a poll by For­tune mag­a­zine.

Ap­ple posted record sales of its lat­est iPhones in the first week­end that they hit stores in late Septem­ber as it in­cluded China sales for the first time.

Many an­a­lysts be­lieve that China is poised to re­place the United States as Ap­ple’s big­gest mar­ket.

Ap­ple’s net in­come rose to $11.12 bil­lion, or $1.96 per share, in the quar­ter end­ing Sept 26 from $8.47 bil­lion, or $1.42 per share, a year ear­lier.

Net sales rose about 22 per­cent to $51.50 bil­lion.

An­a­lysts on av­er­age had ex­pected a profit of $1.88 per share and rev­enue of $51.11 bil­lion, ac­cord­ing to Thom­son Reuters I/B/E/S.

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