Ron Burgundy Posted July 23, 2014 Share Posted July 23, 2014 By Christina Farr and Edwin Chan SAN FRANCISCO (Reuters) - Apple Inc posted a smaller-than-expected 6 percent rise in quarterly revenue on Tuesday, but revenue surged 28 percent in greater China despite stiff competition in its third-largest market. It sold 35.2 million iPhones in the June quarter, a rise of about 13 percent that was in line with analysts' projections, helped by a strong performance in an Asian market considered crucial to Apple's longer-term growth prospects. Chief Executive Tim Cook told analysts on a conference call that Apple's Chinese performance was "honestly surprising." Unit iPhone sales jumped about 48 percent and Mac computer sales rose 39 percent in the June quarter, Chief Financial Officer Luca Maestri said in an interview. This month, Samsung Electronics Co Ltd estimated April-June operating profit far below most analysts' forecasts, as its Galaxy S5 sold more slowly than expected in the face of severe competition.   "We have a really good runway in front of us with China Mobile," Maestri said, referring to Apple's main carrier partner in the world's No. 2 economy. View the full article Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.