During the day yesterday, Apple announced its financial results for the third fiscal quarter of 2016, and is that While they exceeded forecasts by many analysts on Wall Street, the numbers are not so promising. Sales of the iPhone have dropped 7 million units, and revenues also have been reduced considerably with respect to the third quarter of the previous year.
After the publication of the fiscal results, Tim Cook and Luca Maestri (CFO of Apple) made the typical statements post-resultados. Of them we can draw a series of interesting facts:
- The App Store revenue grew 37%, being the highest flood of all
- iTunes Store has once again set records on transactions with customers
- Now the services (App Store, Apple Music, iCloud…) represent 11% of revenues
- The iPhone has surpassed the demand to offer, i.e. asked for more units of which it had manufactured
- The iPhone is popular in emerging markets and developing
The success of the iPhone is much higher than expected
- The user base of iPhone in China has grown by 34% in the last year
- In India, the growth has been 51% in sales of the iPhone last year, being the highest of all
- 3 each 4 payment contactless are with Apple Pay (we assume that in the USA)
- In fact Apple Pay has more than 11 million points of sale in the countries in which it is available
- Countries in which is available already are 9, including 6 of the 10 most important markets of Apple
- 3 acquisitions have been made during the third fiscal quarter
More than Wall Street expected, less than expected
As mentioned at the beginning, while it is true that the results are promising and best of what analysts and shareholders were expected, they are still something worse than everyone expected from Apple.
Is there a fall of interest from the market? Is it fault of Apple iPhone as strong point and is not so much promote other products? The truth is that they are many factors to take into account but looking at things with Outlook the company continues to grow and develop at a horrifying pace.