Faizel Patel, Radio Islam News – 01-08-2018

Apple has announced its financial results for its fiscal 2018 third quarter ended 30 June 2018.

The Company posted quarterly revenue of $53.3 billion, an increase of 17 percent from the year-ago quarter.

International sales accounted for 60 percent of the quarter’s revenue.

Apple sales led by the pricey iPhone X pushed quarterly results far beyond Wall Street targets with subscriptions from App Store, Apple Music and iCloud services bolstering business.

The world’s most valuable technology company also forecast revenue above expectations for the fall, when it typically launches new iPhone models, reassuring a nervous tech sector that saw sell-offs last week in Facebook, Twitter, and Netflix on concerns about their future growth.

CEO Tim Cook says the results reflect Apple best June quarter ever.

“Our Q3 results were driven by continued strong sales of iPhone, Services and Wearables, and we are very excited about the products and services in our pipeline.”

The Cupertino, California company has responded to a plateauing global smartphone market by launching ever-more expensive phones and diversifying into services, prospering even as rival Samsung Electronics missed targets for its flagship Galaxy S9 and China’s Huawei Technologies took the No. 2 global smartphone sales spot.

Twitter: @FaizelPatel143