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| Version 3 | Version 4 |
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| Apple sells fewer phones but profits rise | Apple sells fewer phones but profits rise |
| (35 minutes later) | |
| Apple sold slightly fewer iPhones in the final months of 2017 than it did the year before, but higher prices compensated for the dip. | |
| The firm reported a record $20bn (£14bn) in quarterly profits, driven by strong growth in Japan and Europe. | |
| The results, released on Thursday, were the first to provide a glimpse of sales of the firm's expensive iPhone X. | |
| Apple boss Tim Cook said sales of the product, which starts at about $1,000, had surpassed the firm's expectations. | |
| Apple released the 10th anniversary phone in November. It has been the top-selling phone every week since, Mr Cook said. | |
| Investors had been worried that demand for the firm's products may be dimming, concerns that appeared to be bolstered by a weaker-than-expected sales forecast for coming months. | Investors had been worried that demand for the firm's products may be dimming, concerns that appeared to be bolstered by a weaker-than-expected sales forecast for coming months. |
| The number of iPhones sold in the period also slipped 1% year-on-year to 77.3 million, but Apple executives said it was important to remember that the quarter was one week shorter than in 2016. | |
| Quarterly revenue climbed 13% year-on-year to a record $88.3bn. | Quarterly revenue climbed 13% year-on-year to a record $88.3bn. |
| "I have long believed that a 90-day clock on unit sales is a very surface way to view Apple," Mr Cook said on a call with financial analysts. | "I have long believed that a 90-day clock on unit sales is a very surface way to view Apple," Mr Cook said on a call with financial analysts. |
| 'Extremely engaged' | 'Extremely engaged' |
| Mr Cook said he was watching figures such as the 1.3 billion active Apple devices around the world, which provide a strong customer base for the firm's growing services businesses, which include Apple Pay and other revenue streams. | |
| And analyst Carolina Milanesi, of California-based Creative Strategies, tweeted that "1.3 billion users most of whom are extremely engaged with their devices is why the services numbers will be more and more interesting going forward". | And analyst Carolina Milanesi, of California-based Creative Strategies, tweeted that "1.3 billion users most of whom are extremely engaged with their devices is why the services numbers will be more and more interesting going forward". |
| Apple has been under a cloud after the firm revealed that it deliberately slowed batteries in older phones, prompting investigations in several countries. | Apple has been under a cloud after the firm revealed that it deliberately slowed batteries in older phones, prompting investigations in several countries. |
| It has since apologised, offering customers cheaper batteries and other modifications, but analysts have said that could reduce replacement purchases, potentially affecting the firm's bottom line. | It has since apologised, offering customers cheaper batteries and other modifications, but analysts have said that could reduce replacement purchases, potentially affecting the firm's bottom line. |
| After an initial fall, Apple shares climbed more than 3% in after-hours trade. | After an initial fall, Apple shares climbed more than 3% in after-hours trade. |
| Analysis: Dave Lee, BBC North America technology reporter, San Francisco | Analysis: Dave Lee, BBC North America technology reporter, San Francisco |
| Last year Apple launched three new iPhones, but one was not like the others. | Last year Apple launched three new iPhones, but one was not like the others. |
| The iPhone X was the main event, the talk of the town. In contrast, the iPhone 8 and 8 Plus felt obsolete before Tim Cook had even finished his presentation. Investors were worried that the presence of the iPhone X would put off people buying the cheaper iPhones. And, given the X started at $999, those people may decide not to buy an iPhone at all. | The iPhone X was the main event, the talk of the town. In contrast, the iPhone 8 and 8 Plus felt obsolete before Tim Cook had even finished his presentation. Investors were worried that the presence of the iPhone X would put off people buying the cheaper iPhones. And, given the X started at $999, those people may decide not to buy an iPhone at all. |
| And that appears to be basically what happened. Apple sold marginally fewer iPhones compared with this time last year (though the company blamed that on a shorter accounting period compared with the same time in 2016). | And that appears to be basically what happened. Apple sold marginally fewer iPhones compared with this time last year (though the company blamed that on a shorter accounting period compared with the same time in 2016). |
| With the average selling price going up by around $100, to $796, it means Apple may be selling fewer iPhones, but it is making more from each one. | With the average selling price going up by around $100, to $796, it means Apple may be selling fewer iPhones, but it is making more from each one. |
| Apple investors will be seeing it like this: selling fewer iPhones but dramatically upping the price is certainly one way to solve that ever-present supply chain headache. | Apple investors will be seeing it like this: selling fewer iPhones but dramatically upping the price is certainly one way to solve that ever-present supply chain headache. |
| So, a timid quarter by Apple's unparalleled standards. But by no means a problem. | So, a timid quarter by Apple's unparalleled standards. But by no means a problem. |