 "Apple's forecast for holiday qtr exceeds estimates")
Apple Inc is projecting a happy holiday season.
New larger-screened iPhones are set to help boost sales by at least 10 per cent during the crucial holiday quarter, the Cupertino, California-based company said in a statement on Tuesday. Revenue in the current period will be $63.5 billion to $66.5 billion, just topping the $63.5 billion estimated on average by analysts, according to data compiled by Bloomberg.
For the fiscal fourth quarter ended September 27, Apple's net income rose to $8.47 billion, or $1.42 a share, from $7.51 billion, or $1.18 a share, a year ago. Sales were $42.1 billion, up 12 per cent from $37.5 billion a year earlier. Analysts had projected profit of $1.30 a share on sales of $39.91 billion.
The results give a peek into how the introductions of the new bigger-screen iPhone 6 and 6 Plus have gone after becoming available on September 19. Apple has said it sold more than 10 million of the devices in their debut weekend, yet the rollout was marred by snafus with updates to the iOS 8 mobile-operating system and some user complaints that the 6 Plus would bend when sat upon.
New larger-screened iPhones are set to help boost sales by at least 10 per cent during the crucial holiday quarter, the Cupertino, California-based company said in a statement on Tuesday. Revenue in the current period will be $63.5 billion to $66.5 billion, just topping the $63.5 billion estimated on average by analysts, according to data compiled by Bloomberg.
For the fiscal fourth quarter ended September 27, Apple's net income rose to $8.47 billion, or $1.42 a share, from $7.51 billion, or $1.18 a share, a year ago. Sales were $42.1 billion, up 12 per cent from $37.5 billion a year earlier. Analysts had projected profit of $1.30 a share on sales of $39.91 billion.
The results give a peek into how the introductions of the new bigger-screen iPhone 6 and 6 Plus have gone after becoming available on September 19. Apple has said it sold more than 10 million of the devices in their debut weekend, yet the rollout was marred by snafus with updates to the iOS 8 mobile-operating system and some user complaints that the 6 Plus would bend when sat upon.