Apple posts strong 3Q, hints at next iPhone
SAN FRANCISCO» 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 a 3½-year sales slump.
Revenue increased 7 percent from last year to $45.4 billion.
The fiscal third-quarter results announced Tuesday exceeded analysts’ projections for the period spanning from April to July 1.
Just as important, Apple predicted revenue for its current quarter ending in September will range from $49 billion to $52 billion. That’s better than Apple’s performance last year when its popular line of iPhone 7 phones came out.
The upbeat forecast is likely to ease concerns that production problems might delay the release of Apple’s next-generation iPhone, which typically comes out in late September. That model is expected to boast a higher-quality screen and several other new features.
If the release of the next iPhone was going to be delayed until October or even later, analysts were expecting Apple to lower its revenue projections for the current quarter to below $45 billion. Luca Maestri, Apple’s chief financial officer, declined to comment on the timing of the next iPhone.