Advertisement
Canada markets closed
  • S&P/TSX

    22,167.03
    +59.95 (+0.27%)
     
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • DOW

    39,807.37
    +47.29 (+0.12%)
     
  • CAD/USD

    0.7387
    +0.0000 (+0.00%)
     
  • CRUDE OIL

    83.11
    -0.06 (-0.07%)
     
  • Bitcoin CAD

    95,922.81
    +1,926.43 (+2.05%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • GOLD FUTURES

    2,254.80
    +16.40 (+0.73%)
     
  • RUSSELL 2000

    2,124.55
    +10.20 (+0.48%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • NASDAQ futures

    18,465.00
    -38.75 (-0.21%)
     
  • VOLATILITY

    13.01
    +0.23 (+1.80%)
     
  • FTSE

    7,952.62
    +20.64 (+0.26%)
     
  • NIKKEI 225

    40,328.89
    +160.82 (+0.40%)
     
  • CAD/EUR

    0.6848
    +0.0005 (+0.07%)
     

Apple sold 45.5 million iPhones last quarter

customers buy iphone 7 at apple store
customers buy iphone 7 at apple store

(Some happy iPhone 7 customers.AP)

Apple's earnings for the third quarter are out, and the big number on everyone's mind is iPhone sales.

Apple reported that it sold 45.5 million iPhones last quarter. Analysts were expecting 45 million iPhone sales. It's a slight beat.

iPhone sales have been in decline all year, as Apple faces a saturated high-end smartphone market.

This was the first quarter to represent at least some iPhone 7 sales. But the iPhone 7 only went on sale on September 16. Next quarter, which includes the holidays, will be the big test for the iPhone 7.

Apple says it expects revenues to start growing again next quarter, which is likely due to high demand for the iPhone 7.

ADVERTISEMENT

The iPhone may also get a boost from Samsung's Galaxy Note 7 debacle this fall. Samsung was forced to cancel and recall the Note 7 following several reports that the device overheated and started smoking and/or caught fire.

Here's a chart from BI Intelligence showing iPhone sales growth:

bii apple iphone sales q3 2016
bii apple iphone sales q3 2016

(BI Intelligence)

NOW WATCH: Why your iPhone alarm snooze is automatically set to 9 minutes



More From Business Insider