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Apple has reduced its annual revenue

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Apple has reduced its annual revenue

Apple has reduced its annual revenue
October 26
12:30 2016

For the first time over 15 years, Apple Inc’s revenue decreased in the past fiscal year. Nevertheless, the company is waiting for the profit growth in the current quarter due to the strong demand for the new iPhone.

According to Apple’s press release, the revenue has fallen by 7.7%, amounting to $ 215.639 billion for the fiscal year that ended on September 24, 2016. The net profit of the company has decreased by 14% and became equal to $ 45.67 billion.

Based on the results of the IV quarter, Apple’s net profit has decreased by 19%, amounting to $ 9 billion. A year earlier the profit amounted to$ 11.1 billion for the same period. Analysts that were surveyed by Thomson Reuters, on average, predicted approximately $ 1.65 per share for this index.

The last quarter was not the most successful for the company. The revenue has fallen by 9% – to $ 46.9 billion.

iPhone brought the company 63% of its revenue in the last fiscal year. Apple sold 45.5 million iPhone in the fourth quarter. It is 2.5 million units less than in 2015.

According to Apple’s forecast, its revenue will be $ 76-78 billion in the first quarter. In the poll for FactSet, analysts forecast, on average, $ 74.9 billion revenue for Apple in the current quarter.

The company also forecasts a gross margin ratio of 38-38,5% in the current quarter. The figure was 38% in the IV fiscal quarter.

Apple’s revenue from iPhone sales has reduced by 13% in the last quarter. The earnings from iPad have not changed; the sales of Mac computers have fallen by 17%, service proceeds (Apple Music, iTunes and App Store) have increased by 24%.

The securities of Apple, the world’s most expensive company, fell by 2.8% on Tuesday, during the additional trading. The share price has soared by more than 20% over the last 3 months on the expectations of the increase in iPhone sales.

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1 Comment

  1. Lily Bee
    Lily Bee October 26, 18:18

    This giant is going through difficult times. The goods are of high quality, but in times of uncertainty not everyone can afford to buy iPad or iPhone

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