After Apple’s disappointing second quarter in which iPhone sales slipped for the first time ever, the company had some making up to do. And while iPhone sales continued to decline in the quarter ending June 25, from 47.5 million units in Q3 of last year to 40.4 million this year, the quarter was stronger than both Apple and analysts had expected.
Apple was expecting the slip, as were analysts, though it wasn’t as bad as originally feared. Apple reported a profit of $7.8 billion on $42.4 billion in revenue for the third quarter, which is better than the $42 billion estimated. To compare, Apple raked in $49.6 billion in revenue during Q3 of last year. It was unclear whether the iPhone SE, which was released in March and captured the underserved market for smaller high-end phones, would reverse the iPhone sales slide that started last quarter. (Analysts had estimated that Apple would sell 40 million iPhones, down 16 percent year-over-year.)
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