Apple press

31 Jan 2017 By Robert Cyran Follow @rob_cyran

The company sold more phones in the holiday quarter, yet profit fell. A saturating market and slowing innovation aren’t helping margins. Yet Apple’s size, the prospect of a new phone and the ability to sell additional services are bright spots that should keep investors on board.

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Apple on Jan. 31 reported revenue of $78.4 billion for the quarter ended Dec. 31, an increase of 3 percent from the same period in 2015. The company earned $17.9 billion, or $3.36 per share, compared with $18.4 billion, or $3.28 per share, in the same quarter a year earlier.

Apple sold 78.3 million iPhones in the quarter, compared with 74.8 million in the same period in 2015. The number of iPads sold dropped 19 percent, to 13.1 million, and the number of Mac computers sold increased to 5.4 million from 5.3 million. Services sales rose 18 percent to $7.17 billion in the quarter.

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