Apple (AAPL - Free Report) just released its third-quarter fiscal 2017 earnings data. 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.
Some critics say that Apple, which is nearing an $800 billion valuation, has become simply an iPhone company. There is some truth in this. The revolutionary smartphone is the company’s biggest revenue driver, and Apple even recently discontinued the iPod Nano and iPod Shuffle.
So it is no surprise that many investors look to Apple’s iPhone sales to measure the company’s current economic health. And despite iPhone sales accounting for a majority of Apple’s revenues, total unit sales have not consistently grown recently.
In the fourth quarter of Apple’s fiscal 2016, iPhone sales dropped 5% year-over-year to about 45.5 million. In its all-important holiday quarter, iPhone sales rebounded to 78.29 million units sold, which marked a 5% jump year-over-year.
That quarter marked the first time iPhone sales grew after three consecutive quarterly declines, but the product was back to its sluggish ways quickly. Last quarter, sales dropped 1% from the year-ago quarter to 50.8 million iPhones units sold.
According to today’s report, Apple sold 41.03 million iPhones in the third quarter. This marked a 2% gain year-over-year.
Today’s third-quarter figures came in above our consensus estimate, which called for unit sales of 40.76 million. This consensus figure was based on the research of 19 analysts and can be found in our exclusive non-financial metrics consensus estimate file. These estimates are updated daily and are based on the independent research of expert stock analysts. Learn more here >>>
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