Nintendo Profit Misses Estimates as 3DS Slump Trumps Mario Maker

28 Oct 2015 | Author: | No comments yet »

Apple Sells 48 Million iPhones in Q3, as Strong Growth in China Helps It Top Wall Street Forecasts.

Washington – Apple said on Tuesday that surging iPhone sales helped propel a sharp rise in quarterly profits, as the tech giant delivered a record 48 million of the smartphones.Apple turned in another stellar quarter, driven by a 22% year-over-year jump in sales of its flagship iPhone line with particular strength in China, as it beat analyst expectations.

SAN FRANCISCO: Shares of companies that sell semiconductors to Apple Inc got a shot in the arm on Oct 27 after the iPhone maker posted a fiscal fourth-quarter report that pleased Wall Street. The California tech giant, which in September unveiled revamped versions of the iPhone, said the number of units sold jumped 22 percent from last year while revenues lifted 36 percent. The company, which began shipping the new iPhone 6s and 6s Plus in late September, reported $51.5 billion in sales (up 22%) with net profit increasing 31%, to $11.1 billion ($1.96 per share) for its fiscal 2015 fourth quarter ended Sept. 26. But selling to Apple can be a double-edged sword, with the world’s largest company by market value widely seen as forcing its suppliers to accept razor-thin profit margins in order to hold onto its business.

For the full fiscal year ending in September, Apple booked a whopping $53.4 billion profit, up 35 percent, while revenues rose 28 percent to $233.7 billion. Apple’s international sales represented 62% of revenue in the quarter, and the company said sales in the China market nearly doubled — to $12.5 billion — with iPhone sales in the region up 87% year over year. “I would point out that we’re investing in China, not for next quarter or the quarter after, we’re investing for the decades ahead,” CEO Tim Cook said on Apple’s earnings call Tuesday.

Cook said the fiscal year showed “our largest absolute revenue growth ever” and was helped by “huge inroads into emerging markets generating over $79 billion of revenue and growing 63 percent despite very strong headwinds from foreign exchange”. The company does not break out sales of Apple TV, Apple Watch or Beats music accessories, which are lumped together in the “other products” segment; sales for that category rose 61% to $3.0 billion.

No specific sales figures were given for the Apple Watch, but the results showed revenue from “other” products was US$3bil (RM12.84bil) over the same period. The company paid $17 billion to investors during the most recent quarter through share repurchases and dividends, and CFO Luca Maestri noted that Apple has completed more than $143 billion of its $200 billion capital-return program. The launch of the company’s large-screen iPhone 6 and iPhone 6 Plus last year boosted its sales in China, though it faces sharp competition from domestic competitors such as Xiaomi and Huawei.

Shares of Apple and some of its suppliers had fallen on Oct 26 after German mixed signal integrated circuits maker Dialog Semiconductor, which also sells chips used in the iPhone, announced quarterly results that were lower than analysts’ expectations. On his Chinese Sina Weibo – or microblog – account, Cook posted a photo of himself climbing the Great Wall and said he was “Happy to be back” in China. Apple’s shares, which fell steeply in mid-August as concerns about the company’s business in China hit fever pitch, were trading at $117.75 after the bell.

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