However we know that in another verse of the Qur`an...
However we know that in another verse of the Qur`an, it is stated that (‘s) is the final and seal of all the prophets (and none shall come after him) just as we read: مَا كَانَ مُحَمَّدٌ أَبَا أَحَدٍ مِّنْ رِجَالِكُمْ وَلٌكِنْ رَّسُولَ اللٌّهِ وَخَاتَمَ النَّـبِـيِّـينَ وَكَانَ اللٌّهُ بِكُلِّ شَيْءٍ عَلِيماً “Muhammad is not the father of any of your men, but he is the Messenger of Allah and the last (and seal) of the prophets, and Allah is cognizant of all things.” [^2] The root of these two opposite conclusions is that in the commentary of the first verse mentioned, there was no attention paid to the context of the verse and it was reviewed without keeping in mind the commentary of the verses that came before or after it.
However, if one simply refers to the Qur`an itself, they would have seen that this verse is only one section of a collection of twenty-six verses (verses eleven to thirty-six) of Suratul Araf (7) which elucidate upon an event that took place at the beginning of the creation of humanity. Thus, we see that these verses are in regards to the time period of the creation of Adam (‘a), his being removed from Paradise and being ordered to live on the Earth along with his wife and children.
In such an instance in time (when this was happening), Allah (awj) addressed the sons of Adam (‘a) and told them, “O’ children of Adam!
If a prophet comes to you, then whosoever of you displays consciousness (Taqwa) of Allah and chooses the path of righteousness shall have no fear or grief!” There is no doubt that after Adam (‘a) settled down on Earth, countless prophets came from Allah (awj) to guide mankind and all of their missions were one and the same: فَمَنِ اتَّقَـى وَأَصْلَحَ فَلاَ خَوْفٌ عَلَيْهِمْ وَلاَ هُمْ يَحْزَنُونَ “…then whoever shall guard (against evil) and act aright, they shall have no fear nor shall they grieve.” Such an address (by Allah (awj)) which took shape at the beginning of creation does not prevent us from accepting the fact that our Prophet (Muhammad (‘s)) is the final prophet and it is through him that the door of Propethood, which up until the point in time (of him coming) had been open for so many years, was shut to humanity for various reasons.
Thus in summary : In this instance, the Qur`an is addressing a specific period and is relating an incident to us. However this does not mean that this is something that would take shape after the revelation of this verse that is being reported about (that another prophet would come).