Apple's Profits Fall By 16% But Still Crushes Analysts Expectations

Apple's released its Q3 2016 earnings report at a Livestream few hours back and reported a hefty loss of 16% compared to Q3 2015. However, the revenue still managed to beat Analysts expectations as they were expecting a lot less.

The standout unit remains the iPhone, with 40,399 units(thousands) sold in the past quarter. This is significantly less than the 47,000 figure(thousands). At second we have the iPad with 9,950 units(thousands) sold which is 3% less than the 10,931 units(thousands) figure of Q3 2015. At third you have the Mac products whose 4,252 units(thousands) have been sold.

Here is a summary of the entire earnings call:

Overall revenue stands at a massive $42.36 Billion which is a lot lower than last year's Quarter but still managed to beat analysts predictions of $42.1 Billion. The stock market was also relatively calm, with Apple's shares experiencing a healthy 6% growth in after hours trading.

What are your thoughts about Apple's revenue this Quarter? Are you impressed by Apple's performance? Let us know!