Ap­ple posts strong 3Q, hints at next iPhone

The Denver Post - - BUSINESS -

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.

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