Arab Today, arab today apple quarterly profit soars on iphone sales
Last Updated : GMT 18:52:34
Arab Today, arab today
Arab Today, arab today

Apple quarterly profit soars on iPhone sales

Arab Today, arab today

Arab Today, arab today Apple quarterly profit soars on iPhone sales

Apple first-quarter profit jumped 33% from a year ago
New York - AFP

Apple on Monday reported a 33-percent rise in its quarterly profit, lifted by robust sales of its iPhones and a jump in revenue from China.

The California tech giant said profit rose to $13.6 billion, lifted by sales of 61 million iPhones in the first three months of the year.

Revenue increased  27 percent from the same period a year ago to $58.01 billion, Apple said.

"We are thrilled by the continued strength of iPhone, Mac and the App Store, which drove our best March quarter results ever," said chief executive Tim Cook.

"We're seeing a higher rate of people switching to iPhone than we've experienced in previous cycles, and we're off to an exciting start to the June quarter with the launch of Apple Watch."

The results for the second fiscal quarter exclude the new Apple smartwatch, which began deliveries last week in nine countries.

Apple said separately it was adding $50 billion to its share buyback program and boosting its dividend, in an apparent concession to shareholders fearing the company is stockpiling too much cash.

Apple said it board has increased its share repurchase authorization to $140 billion from the $90 billion level announced last year. The buybacks increase value for shareholders by reducing the number of outstanding shares.

The board also approved an 11-percent increase in quarterly dividends to 52 cents per share.

"We believe Apple has a bright future ahead, and the unprecedented size of our capital return program reflects that strong confidence," said Cook.

"While most of our program will focus on buying back shares, we know that the dividend is very important to many of our investors, so we're raising it for the third time in less than three years."

Apple, already the largest publicly traded company by market value, saw its shares rise in after-market trade by 0.81 percent to $132.65, pushing its capitalization to more than $770 billion.

Apple's results come after hugely successful launch last year of its large-screen iPhones, helping it regain market share lost to rivals like Samsung and others using the Google Android platform.

Apple's report showed a 40 percent jump in iPhone sales compared with the same period a year ago.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today apple quarterly profit soars on iphone sales Arab Today, arab today apple quarterly profit soars on iphone sales

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures

GMT 06:25 2017 Thursday ,23 February

Bupa Arabia sponsors SMEA forum

GMT 06:11 2017 Thursday ,23 February

Football: Turkish company wins Qatar World Cup contract

GMT 05:46 2017 Thursday ,23 February

SABIC net profits fall in 2016

GMT 21:01 2017 Wednesday ,22 February

Saudi Aramco mulls offering citizens discounted shares

GMT 16:50 2017 Wednesday ,22 February

Yahoo salvages Verizon deal
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday