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Apple earnings beat expectations as it sells pricier iPhones

Reuters 

By Stephen Nellis(Reuters) - Apple Inc on Tuesday posted quarterly results that topped Wall Street targets and forecast revenue in the current quarter above expectations, driven by sales of higher-priced iPhones and revenue from services like the App Store, Apple Music and iCloud.Apple beat sales estimates in part by selling fewer but pricier iPhones than analysts expected. The company sold 41.3 million units, below expectations of 41.8 million units.The average iPhone selling price hit $724, beating analyst expectations of $694, according to data from FactSet. Apple Chief Financial Officer ...

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First Published: Wed, August 01 2018. 02:42 IST
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