iPhone sales lift Apple to record quarter
Data from Strategy Analytics show that the tech giant overtook Samsung to be the top smartphone vender in the last three months of 2016
San Francisco — Apple on Tuesday reported a rebound in iPhone sales to lift the tech giant to record revenue in the past quarter in quarterly results that eased concerns of slowing growth. The results showed strong demand for Apple’s iPhone 7 models launched last year, with demand outpacing supply. Revenue climbed to a record $78.4bn compared with $75.9bn in the same period a year earlier, the company said in its earnings update for the quarter ending in December. Compared with the same quarter a year earlier, profit dipped 2.6% to $17.9bn. Apple shares were up nearly 3% to $124.80 in after-market trades that followed release of the earnings results. Apple said that it sold 78.3-million iPhones — the most ever in a quarter — up 5% from the same prime holiday shopping period the previous year. The sales made Apple the world’s top smartphone vender in the final three months of last year, overtaking Samsung, according to industry tracker Strategy Analytics. The growth promised to assua...
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