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Apple reports decline in iPhone salesThe company's flagship product isn't selling like it used to, but Apple is still making tons of money.
iPhone cells are down again. Apple reported it's fiscal third quarter numbers. In general, Apple beat analyst estimates on things like revenue, earnings, as well as iPad and iPhone cells. However, Apple didn't beat those estimates by much. Let's talk about Apple's flagship product, the iPhone In April, Apple announced its first drop in iPhone sales. This time, the company said iPhone sales declined again. The good news is the decline was less than expected. Experts estimated Apple would sell around 39.7 million iPhones. Apple sold 40.4 million iPhones. Last year at the same time, Apple sold 47.5 million iPhones. Apple CEO Tim Cook said demand for the iPhone SE was greater than Apple's supply in the quarter. However, Apple now has enough to meet demand. The iPhone SE is Apple's updated 4-inch iPhone. It has a lot of iPhone 6S features, packed in a smaller body. iPad sales were a mixed bag. Sales of iPads fell for the tenth straight quarter. However, Revenue generated from the iPad was up. Las year, the average iPad price was around 415 dollars. Now the average iPad hovers at around 490 dollars, thanks to the introduction of the pricier iPad ProLine. Tim Cook said this is the best iPad quarterly revenue the company has had in quite some time. Overall, Apple's revenue and net income declined. Apple revenue was $42.4 billion dollars, net income came in at $7.8 billion dollars. Apple's stock price increased over 7% on the news and after hours trading. And with that, this tech news update draws to a close. I'm [UNKNOWN] and you can stay on top of the biggest stories at CNET.com/update. [MUSIC]