Apple March quarter report is in, iPhone sales on the rise

Surprise Apple Delivers Another Blockbuster Quarter

The results show Mac sales have fallen compared to Apple's year ago quarter.

Apple does not offer sales figure from Apple Watch, AirPods and other peripherals but it did confirm revenues from other products were up 38 percent from past year.

APPLE REPORTED its best-ever second quarter for sales on Tuesday, despite speculation that its flagship iPhone X has suffered lacklustre sales.

Total sales of iPhone models during the January-March period dropped 32 percent to 52.2 million units from 77.3 million units in the October-December period past year. "We also grew our revenue in all of our geographic segments, with 20 percent growth in Greater China and Japan".

Meanwhile, the company is sitting on a pile of cash that it can't figure out what to do with, so it's buying back $100 billion in stock from shareholders.

MORE: Fitbit Versa vs. Apple Watch: Which Smartwatch Wins?

Much of the concern was directed at the iPhone X. The new model, with a full bleed screen and facial recognition, was once viewed by investors as key to driving customers to upgrade their smartphones.

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Apple's Q2 Results were released on Tuesday after the market had closed.

Apple traditionally updates its share buyback and dividend programme each spring, and the $100 billion it added this year compares with an increase of $50 billion last year. However, Apple iPad's revenue rose by 6 per cent on an yearly basis, though it witnessed a 30 per cent sequential decline.

Apple had been seen as being under particular pressure as rivals undercut prices for its top iPhone models while the iPhone 8 range and 10th anniversary edition iPhone X received lukewarm reviews.

Cook noted that the infrastructure in India has come "quite a ways" since Apple began to put a lot of energy in the Indian market "because of their leadership and so forth". Analysts had projected of 52.3 million, on average, although some investors expected fewer units. Apple sold 52.2 million iPhones, 9.1 million iPads, and over 4 million Macs during the quarter, earning $38 billion, $4.1 billion, and $5.8 billion respectively from these three verticals.

In a conference call with investors, Cook made no direct comment about recent rumors regarding variations on the iPhone X, but did say that Apple is "going to continue to provide different iPhones for folks to meet their needs", which some may take as a hint that new designs are on the way.

Shares in Apple have risen after it reported solid phone sales growth in the latest quarter despite fears over demand for the iPhone X. That's 14 percent up from the same quarter as past year.

Apple also announced $100 billion share buyback announcement where it will use the overseas cash brought back to the U.S. as part of Trump administration's repatriation program.

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