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China sales drive strong Apple results

Tuesday, July 22, 2014 - 01:33

A jump in both iPhone and Macs computer sales in China helped Apple beat forecasts in its third quarter, despite weaker than expected revenue and guidance. Bobbi Rebell reports.

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China delivered the goods for Apple. Revenue surged 28 percent in the highly competitive market. iPhone sales there up 48 percent.. helping it beat third quarter earnings forecasts overall- though revenue was a bit light.. and forward guidance was more conservative than many had expected. Patrick Moorhead is President of Moor Insights and Strategy: SOUNDBITE: PATRICK MOORHEAD, PRESIDENT OF MOOR INSIGHTS AND STRATEGY (ENGLISH) SAYING: "Not only did they hit their numbers in a quarter that had risk because of a potential next-generation iPhone, but also the growth in emerging regions." Overall, Apple reported iPhone sales of 35.2 million- up 13 percent from a year ago. iPad sales- which have been under pressure from cheaper Android options- came in at just 13.3 million short of forecasts. Mac sales coming in strong at 4.4 million. But it's the iPhones that matter. Rival Samsung warned its Galaxy 5S sold more slowly than expected in the past quarter, giving Apple an opening and raising expectations for the next generation of larger screens. SOUNDBITE: PATRICK MOORHEAD, PRESIDENT OF MOOR INSIGHTS AND STRATEGY (ENGLISH) SAYING: "For Apple, it's a gamechanger. Phablets have been out there forever but Apple had yet to enter that market. I believe a lot of consumers were buying Samsung-branded phones because of that screensize." Those phones expected in September. Apple kept mum on other products possibly in its pipleine- including an iWatch.

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China sales drive strong Apple results

Tuesday, July 22, 2014 - 01:33

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