The company posts a drop from the previous quarter

Aug 2, 2017 04:48 GMT  ·  By

Apple has announced that FY17 Q3 generated revenue of $45.4 billion and $8.72 billion profit, with the company revealing that it sold a total of 41 million iPhones, 11.4 million iPads, and 4.29 million Macs.

This means that from the previous quarter Apple’s financial results actually declined, though they increased year-over-year by 7 percent. Furthermore, services revenue experienced a growth of 17 percent, which marks an all-time quarterly record from the company.

Specifically, Apple’s FY 2017 revenue and profit dropped from $52.9 billion and $11.03 billion, respectively, with sales of iPhones, iPads, and Macs also declining from 50.7 million, 8.92 million, and 4.19 million

But on the other hand, Apple says it’s very pleased with how its units performed, especially because sales increased year-over-year from $42.4 billion revenue and $7.8 billion profit. In the same quarter the year before, Apple sold 40.4 million iPhones, 9.9 million iPads, and 4.2 million Macs.

iPhone 8 to generate increased sales the next quarter

Apple’s CEO Tim Cook praised the company for its performance in the third quarter, forecasting continued growth in the next financial quarter. Estimates point to FY17 Q4 sales between $49 billion and $52 billion and profit margins between 37.5% and 38%.

“With revenue up 7 percent year-over-year, we’re happy to report our third consecutive quarter of accelerating growth and an all-time quarterly record for Services revenue,” said Tim Cook, Apple’s CEO. “We hosted an incredibly successful Worldwide Developers Conference in June, and we’re very excited about the advances in iOS, macOS, watchOS and tvOS coming this fall.”

While Apple does expect revenue to grow in the current quarter, it’s important to note that a more substantial boom is likely to be recorded in the next quarter, mostly because of the arrive of the new iPhones due in September.

Furthermore, the iPhone 8, which is also expected to be unveiled in September, is more likely to hit the shelves later this year, which means that the sales it generates would only be part of the next quarter. Analysts predict the iPhone 8 to be the best-selling iPhone in history, despite its starting price tag of approximately $1,200.  

Revenue Profit iPhone iPad Mac
FY17 Q3 $45.4 billion $8.72 billion 41 million 11.4 million 4.29 million
FY17 Q2 $52.9 billion $11.03 billion 50.7 million 8.92 million 4.19 million
FY16 Q3 $42.4 billion $7.8 billion 40.4 million 9.9 million 4.19 million