Apple hails positive customer response to new iPhones

Apple chief Tim Cook has hailed the positive customer response to the latest iPhones – the iPhone 7 and iPhone 7 Plus.

Speaking at the announcement of his company’s latest financial results, he added that other Apple products are also performing strongly.

“We’re thrilled with the customer response to iPhone 7, iPhone 7 Plus and Apple Watch Series 2, as well as the incredible momentum of our Services business, where revenue grew 24 per cent to set another all-time record,” Mr Cook commented.

Apple’s financial results covered the fiscal 2016 fourth quarter ending September 24th and the company posted quarterly revenue of $46.9 billion (£38.4 billion) and quarterly net income of $9 billion – or $1.67 per diluted share.

These results compare to the corresponding figures of $51.5 billion revenue and net income of $11.1 billion, or $1.96 per diluted share, that were recorded in the same period one year ago.

Gross margins currently stand at 38 per cent compared to 39.9 percent in the year-ago quarter and 62 per cent of the quarter’s revenue was accounted for by international sales.

Mr Cook welcomed this performance as a strong one, even if it was slightly down on performance in 2015.

“Our strong September quarter results cap a very successful fiscal 2016 for Apple,” he remarked.

Luca Maestri, chief financial officer of Apple, said he is particularly pleased to have generated $16.1 billion in operating cash flow, as it represents a new record for the September quarter.

“We also returned $9.3 billion to investors through dividends and share repurchases,” he commented, adding that this means that Apple has completed more than $186 billion of its capital return programme.ADNFCR-2155-ID-801827411-ADNFCR

Written by Mazuma

Mazuma Mobile is the UK's most trusted mobile phone recycling service.

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