Apple's third-quarter earnings soar on the back of booming iPad sales<article>
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<p>No new iPhone, no problem for Apple’s bottom line. The company just
reported its third quarter results for fiscal year 2017 and they’re awfully good: $8.7 billion profit, or $1.67 per share, on revenue of $45.4 billion.</p><p>That breaks down to 41 million iPhones, a slight increase from the third quarter of 2016, when Apple moved more than a little more than 40 million handsets. Sales were down when compared to last quarter’s 50.7 million, however.</p><p>But the big surprise was the iPad. On the back of the new
10.5-inch iPad Pro released at WWDC in June, Apple moved 11.4 million tablets, its biggest non-holiday quarter for the tablet in more than two years. That’s an increase of nearly 30 percent from last quarter and 15 percent from Q3 2016. However, revenue from tablet sales was only up 2 percent, suggesting people may be opting for cheaper models.</p><p class="jumpTag"><a href="/article/3212866/techology-business/apples-third-quarter-earnings-soar-on-the-back-of-booming-ipad-sales.html#jump">To read this article in full or to leave a comment, please click here[/url]</p></section></article>
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Apple's third-quarter earnings soar on the back of booming iPad sales
