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Apple on Tuesday reported quarterly revenue of $52.9 billion, or $2.10 per share, which is up slightly over the $50.6 billion and $1.90 per share it generated in the year-ago quarter. Analysts were expecting revenue of $53.02 billion and earnings per share of $2.02, Reuters notes.
For the quarter, Apple shipped 50.8 million iPhones. That’s down from the 51.2 million units it moved during the same period in 2016 and just south of the 52 million that Wall Street was anticipating.
Apple CEO Tim Cook told CNBC that they are seeing a delay in purchasing behavior that they think is a consequence of the number of rumors and reports about future products.
Cook is of course referring to the onslaught of iPhone 8 rumors that have dominated news cycles as of late. Indeed, with a new iPhone coming that’s expected to feature a major redesign, OLED display, wireless charging and more, it’s understandable that consumers may be holding back on buying until they launch (or at least, are announced).
Apple said international sales accounted for 65 percent of its revenue during the quarter.
Share value in Apple is down slightly in after-hours trading. As of writing, shares sit at $144.80 which is down 1.84 percent from its closing rate of $147.51.
Looking ahead to the upcoming quarter, Apple anticipates bringing in revenue between $43.5 billion and $45.5 billion with a gross margin between 37.5 percent and 38.5 percent.