Apple’s quarterly sales fall, but forecast calls for gains

According to today’s report, Apple sold 45,513,000 iPhone units in the fourth quarter.

Apple reported total iPhone sales for the three months to September 24 of more than 45.5 million units – up around five million on the last quarter – but still down on the same period a year ago.

For the coming quarter, Apple said it expects revenue of $76 billion to $78 billion, which would represent a “return to growth”, Luca Maestri, Apple’s CFO, said on Tuesday.

The Americas are still Apple’s largest territory, but deflating sales in China made it Apple’s third-largest territory by revenue after Europe.

As for the all-important iPhone sales, Apple said that Q3 iPhone shipments totaled 45.5 million, slightly higher than the expected 45.2 million, and down from 48.05 million a year ago. As a whole, these sales earned Apple a revenue of $46.9 billion.

IPhone maker reported fiscal fourth quarter revenue of $46.9 billion, down 9 percent from the same period past year.

The company had been expected to report roughly $47 billion in revenue and earnings of $1.65 per share.

Apple may also yet see a bounce in its sales as a result of the withdrawal of the Samsung Note 7, its rivals’ troubled smartphone that was discontinued following a spate of fire incidents. Instead, we look to the company’s holiday quarter, where the bulk of its iPhone sales occur.

Apple CEO Tim Cook said on a conference call with analysts that demand for the new iPhones is “outstripping supply in the vast majority of places, particularly on the iPhone 7 Plus”.

Mr Cook also said the IT giant was closely watching developments in the TV industry, with Apple starting to focus on original content. The first is that Apple generated $16.1 billion in cash flow, a September quarter record.

Other (including Apple TV, Apple Watch, Beats products): $2.4 billion in revenue. That happened again in the most recent quarter with sales in greater China at $8.8 billion, down 30 percent on the same period past year.

Revenue: $46.9 billion (2016), $51.5 billion (2015); down 9%.