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Apple sold 42 million iPhone units in Q3, shows 37 percent earning growth

On Tuesday, Apple will be revealing its third-quarter earnings report.  But Estimize, an open financial estimates platform has already estimated the results which the company is yet to announce. The earnings report release is scheduled to release on Tuesday, July 31. It is believed that Estimize’s earnings estimates are more accurate than Wall Street 70% of the time.

Estimize’s predictions:

Philip Elmer-DeWitt has made some big predictions about the release of Apple earning report for the third quarter. According to Elmer, Apple will hit the highest revenue since the fourth quarter of 2015. he also predicted that Apple will have sold 42.05 million iPhone units in the third quarter.

Analysts did these predictions last year too but Apple always earned more revenue than the analysts were expecting. Apple made $24.8 billion in revenue and sold 41 million iPhone units in the third quarter last July.  Here, CNBC had predicted that Apple would have sold 40.7 million iPhone units and $25.52 billion in iPhone revenue which is quite a bit lesser than the actual figures.

One more group of analysts did predictions about but Apple proved them wrong. The analysts were expecting the revenue to be $44.89 billion but soon after Apple reported $45.5 billion as its revenue.

Apple is known for breaking records. This time too many analysts have reported that Apple will be recording the highest earnings growth in the remaining 2018. After the launch of the new flagships in September it is expected to rise. Apple in the fourth quarter will be launching an LCD iPhone which would be cheaper as compared to other OLED high-end iPhones. This would surely mean more money for Apple.