Apple earnings down, iPhone sales decline
Los Angeles - Apple's latest results, posted Tuesday, showed a drop in revenue and declining iPhone sales.
Apple posted quarterly revenue of 46.9 billion dollars and a net income of 9 billion dollars, compared with 51.5 billion and 11.1 billion dollars in the same quarter last year.
In the most recent quarter, during which the iPhone 7 was launched, Apple sold 45.5 million phones - five per cent less than in the same quarter last year.
International sales accounted for 62 per cent of revenue for the quarter, however, revenue from Greater China, seen as an important driver for growth, declined by 30 per cent to 8.8 billion dollars.
Apple chief executive Tim Cook insisted results were "strong" and capped "a very successful fiscal 2016 for Apple."
