Apple to No Longer Share Unit Sales for iPhone, iPad and Mac

Eileen GuzmanNov 04, 2018

That said, Apple during the quarter gone by sold 46.9 million iPhones. The stock closed at $222.22 in NY, leaving it up 31 percent this year.

Device sales for Apple haven't been that good. The company says the quarterly numbers and prices didn't necessarily tell investors how strong its business has been. Analysts were looking for $92.7 billion, according to data compiled by Bloomberg.

The company's CFO Luca Maestri said Thursday that the company would stop reporting these kinds of unit sales in the future. "To give you a perspective in some detail, our business in India in Q4 was flat". Now Apple is making a change to ensure it doesn't have to talk as much about that problem.

Apple's stock nearly 7 percent to $207.67 in extended trading after all the news came out.

Apple sold 9.7 million iPads during the quarter, gaining share in almost every market it tracked. The iPhone 8 models were released a year ago, making them an excellent option for someone looking to make the switch or upgrade. Before the year is out, support will also be provided for the 15-inch MacBook Pro with Retina display (launched in 2012), the 13-inch Retina MacBook Pro models launched in late 2012 and early 2013, the 2012 Mac Pro, and the GSM-only model of the iPhone 5.

The company made its bets for connecting with consumer wants when it laid out its new line of iPhones at its Press event in September. Though Apple saw impressive revenue growth and completely demolished earnings estimates, Apple shares were down, in part, because iPhone unit sales remained somewhat unchanged year over year. Apple is now assembling iPhone 6S in India with its partner Wistron. Apple has responded by promoting software and services across its devices and raising prices on new gadgets.

Another metric analysts are watching closely: Apple's services revenue. Analysts expected $10.18 billion.

In contrast, Apple's services business, which includes Apple Music and iTunes, continues to grow, with revenue up 17% on this time previous year to just under 10 billion dollars (£7.6 billion). However, this has generally been a problem even for other smartphone companies this year. In terms of revenue, Apple broke its own record with $62.9 billion, 20% up from a year ago. As a point of reference, analysts on Wall Street were anticipating revenue to fall in the $61.59 billion range with EPS to fall around $2.78. Apple stocks plunged another 6.7% after the conference call.

Sales for iPads and Macs both dropped (six per cent and two per cent, respectively), but revenue on "Other Products", which includes the Apple Watch, Apple TV, HomePod, AirPods and more, was up 31 per cent.

FILE- In this September 21, 2018, file photo customers look at new Apple watches including the Series 4 at an Apple store in NY.

For the firm's full 2018 financial year, profits increased 23% to $59.5bn, as revenue rose 16% to $265.5bn.

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