Apple sees rebounding iPhone sales, surging services business


The Wall Street Journal:

While the iPhone 7 didn't post the double-digit increases of predecessors in its first full quarter on the market, Apple said sales of the new model helped lift total iPhone shipments 5% to a record 78.2 million during the three months through December. The phone, which accounts for two-thirds of Apple's sales, helped boost revenue 3% to $78.4 billion.

Profit in the quarter fell 2.6% to $17.9 billion, or $3.38 a share. Analysts surveyed by Thomson Reuters had expected earnings of $3.22 a share and $77.4 billion in revenue for the quarter.

Interestingly, Apple's services business (Apple Music, Apple Pay, and the App Store) say 18% growth over last year. Mac sales, however, were basically flat at 1% growth and iPads fell 19%.