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.
CEO Tim Cook is in an interesting position: Apple continues to add eye-popping amounts of money to its record-setting stockpile of cash. But it has struggled to find a new hardware product that can deliver the kind of earnings growth the iPad and iPhone did. This time last year, Apple saw its…
