Investors disappointed with Apple's results

Investors disappointed with Apple's results

Apple has performed better in the past quarter than what analysts had expected, but nevertheless, investors were not happy with the results, particularly when it comes to the hyped Apple Watch.

Doubled in China

Apple's third quarter net turnover reached 31.4 billion dollars (28.7 billion euro), up a third compared to last year, mainly thanks to strong iPhone sales. The smartphone also managed to bump sales up a third, to 47.5 million units.

 

The company's meteoric rise in China is remarkable: turnover grew 112 % to 13.2 billion dollars (12.1 billion euro), while Mac sales went up 9 %. Apple did struggle to boost tablet sales as it faced an 18 % drop in the past quarter to a mere 10.9 million iPads.

 

However, many investors were looking for Apple Watch numbers, even after Apple had said it would not divulge separate numbers for that product. People had to look for Apple Watch's turnover in the "Others" category, which includes Beats sales, a brand Apple acquired last year. In total, the "Others" category was worth 2.6 billion dollars (2.38 billion euro) and CEO Tim Cook said the Apple Watch contributed at least 1 billion dollars, but he failed to specify further. That refusal disappointed investors as the Apple share received a (minor) blow on the stock market.

Tags: