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Apple breaks revenue and profit records once more

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Apple breaks revenue and profit records once more
August 02
09:00 2017

The US company Apple has adjusted the outlook for net profit and revenue for 2017. The profit for the third fiscal quarter has increased by 12%, revenue – by 7%.

The market reacted to the good news from Apple logically and clearly: the stock price has increased as much as to159.50 US dollars. Thus, the growth for the day is 6.3%.

The management of the company has shared the information on the company’s net profit for the third fiscal quarter of this year, which ended on July 1. So, the profit has increased by 0.92 billion US dollars compared to the same period last year and has amounted to 8.72 billion US dollars. The profit has increased by 0.25 US dollars per share (by 17.6%) – to 1.67 US dollars. This happened not only because of excellent profitability indicators, but also because of the decrease in the number of shares in circulation.

The revenue growth compared to the comparable period of 2016 has amounted to 3.05 billion US dollars; the company’s revenue has totalled 45.41 billion US dollars.

The most pleasant surprise for Apple was a significant increase in revenue from the implementation of services (primarily refers to the App Store). For the third quarter, the revenue has amounted to 7.27 billion US dollars (last year – 5.98 billion US dollars).
Proceeds from the sale of iPhones have grown by 1.6%. At this time the sale of smartphones is the main corporation’s source of revenue.
Tablets iPad began to be sold 15% better (by the number of sold units), but the revenue has grown only by 2%. This fact means that budget models with a low price are the most popular ones.

Mac computers were also well sold, the proceeds have amounted to 5.6 billion US dollars, an increase in revenue is 7%.
Investors will certainly be interested in the information about the company’s cash reserves. It became known that their volume had amounted to 261.5 billion US dollars by July 1. CNBC estimated that was enough to buy such companies as Airbnb, Netflix, Tesla, Twitter and Uber. After the simultaneous purchase, the company will have almost 30 billion US dollars.

For this year, Apple’s share price has grown by almost a third that is well ahead of the “average hospital temperature” (the growth of the Nasdaq index has amounted to 18.2% since the beginning of the year). The company’s capitalization is currently estimated at a record $ 780 billion.

The material was prepared with the participation of Andrey Majorov,
a leading analyst of the brokerage company CT Trade

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