Apple (AAPL) Q3 iPhone Sales Up 2%, 41 Million Units Sold

Apple’s Tim Cook teases autonomous tech for non-car gadgets

But Apple's "Other Products" category - which includes the Apple Watch, wireless AirPods earbuds and Apple TV - was its fastest growing segment, percentage-wise, last quarter, with 23 percent year-over-year growth.

The company's net income also increased to more than 8.7 billion dollars (£6.5 billion) - compared to 7.8 billion dollars (£5.9 billion) in the same period in 2016.

Apple told investors that it expects to see somewhere between $49 billion and $52 billion in revenue next quarter.

Apple stock popped 6% in after hours trading Tuesday following the earnings report, effectively adding almost $50 billion to its market cap.

Much of the revenue came from iPhone sales, which, with 41 million units sold between May and June, contributed $24.8 billion to that figure.

Milunovich is referring to the high-end iPhone 8, which is expected to pack a new, more colorful and brighter "OLED" panel that takes over nearly the entire front of the phone.

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The company on Tuesday (Aug. 1) reported sales for the most recent totalling $45.4 billion, down 28 percent compared with the previous quarter and up 15 percent compared with the year-ago quarter.

As it prepares to mark the 10th anniversary of the first iPhone launch, Apple Inc. reported its third consecutive quarter of accelerating annual sales growth, punctuated by an all-time high in services revenue and year-over-year growth across all product lines.

The company sold 11.4 million iPads, up 14.8%. During the same quarter past year, Apple was able to sell some 9.95 million iPads.

The company is expected to release its next iPhone in September.

"Not only is $7.3 billion in revenue hugely significant in its own right, it underlines the ecosystem advantage it has over its competitors outside of China". Coming into today, one of the hottest points of discussion surrounding Apple was iPhone sales, and the new report has provided us with some updated numbers.

Given that new iPhones are around the corner, and considering the massive hype surrounding the iPhone 8 (or whatever it ends up being called), it doesn't surprise me that iPhone sales weren't anything to write home about. When analysts asked CEO Tim Cook about the forecast, however, he said the company doesn't comment on "anything that's not announced".

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