Apple’s earnings show modest growth, but iPhone sales are flat
Apple sold 50.76 million of its iconic iPhones during the first three months of 2017. That helped the company generate $52.9 billion in revenue, a 4.5 percent increase from the same period last year. The number of iPhones snapped up by consumers was essentially flat, shrinking by 1 percent over the second quarter of last year. But the average sale price per smartphone climbed, helping power the company to more than $11 billion in net profit.
When asked about flat iPhone sales, Apple CEO Tim Cook pointed to rumors of a new iPhone 8 with a radical design overhaul as the culprit. “We're seeing what we believe to be a pause in purchases of iPhone, which we believe is due to the earlier and much more frequent reports about future iPhones,"...