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Apple's Forecast Signals Strong Sales of New iPhones This Year

  • Company’s projection hints at no delay for new flagship phone
  • Revenue, profit in fiscal third-quarter also above estimates

Apple Inc. projected revenue in the current quarter that topped analysts’ estimates, signaling strong sales of the new iPhones scheduled to be released later this year.

Sales will be $49 billion to $52 billion in the three months through September, the Cupertino, California-based company said Tuesday in a statement. Analysts projected $49.1 billion.

New iPhones typically go on sale in mid- to late September, which produces a few weeks of revenue that are included in the company’s fiscal fourth-quarter results. Some analysts had reduced their projections on concern the new high-end iPhone may be delayed, but Apple’s forecast on Tuesday calmed those fears.

“We’ve put everything we know into coming up with the guidance,” Chief Executive Officer Tim Cook said in an interview with Bloomberg Television’s Emily Chang. “We really like what we see for the beginning of the back-to-school season.”

The company sold just more than 41 million iPhones in the quarter ended July 1, generally in line with the 41.1 million estimated by analysts, according to data compiled by Bloomberg. Revenue rose 7.2 percent to $45.4 billion compared with the average projection of $44.9 billion. Apple generates almost two-thirds of its revenue from the iPhone.

New Models

Apple is likely to introduce three new handsets this year: a revamped top model, known for now as the iPhone 8, and upgrades to the existing iPhone 7 and iPhone 7 Plus...