Apple sold 45.5 million iPhones last quarter
Apple reported that it sold 45.5 million iPhones last quarter. Analysts were expecting 45 million iPhone sales. It's a slight beat.
iPhone sales have been in decline all year, as Apple faces a saturated high-end smartphone market.
This was the first quarter to represent at least some iPhone 7 sales. But the iPhone 7 only went on sale on September 16. Next quarter, which includes the holidays, will be the big test for the iPhone 7.
Apple says it expects revenues to start growing again next quarter, which is likely due to high demand for the iPhone 7.
The iPhone may also get a boost from Samsung's Galaxy Note 7 debacle this fall. Samsung was forced to cancel and recall the Note 7 following several reports that the device overheated and started smoking and/or caught fire.