Apple iPhone sales fall, but beat estimates

The leaf on the Apple symbol is tinted green at the Apple flagship store on 5th Avenue in New York, in this file picture taken April 22, 2014. Through bursting bubbles and crashing markets, revenue and profit at America's top companies have expanded smartly over the past 18 years -- nearly tripling in the case of operating income. A Reuters analysis of revenue, operating profit and head count growth at the 100 largest non-bank companies between 1995 and 2013 documents a steady divergence between their ability to generate earnings and the need to hire employees. To match Insight USA-ECONOMY/EMPLOYMENT REUTERS/Brendan McDermid/Files (UNITED STATES - Tags: ENVIRONMENT SCIENCE TECHNOLOGY BUSINESS)

Apple has reported its third quarter in a row of falling iPhone sales and revenue, but sales beat analyst expectations.

The tech giant sold 45.51 million iPhones in the three months to 24 September, beating an average estimate of 44.8 million.

The company also forecast higher-than-expected holiday season revenue of between $76bn and $78bn.

But revenue in the fourth quarter fell 9% to $46.85bn.

That meant annual revenue fell for the first time since 2001, highlighting a slowdown in the smartphone market as well as intensifying competition, particularly from Chinese rivals


Source: BBC