Apple Has Its Best-Ever Third Quarter, With Record iPhone Sales
During the quarter, sales of the tech giant’s iconic smartphone increased by 49.8% to US$39.6 billion, while its important services arm increased by 32.9 percent to US$17.5 billion.
Chris Delmas Apple said revenue from iPhone sales jumped some 50 percent and posted increases for its increasingly important services such as digital payments, music, streaming television and gaming
Apple said Tuesday its profit in the just-ended quarter nearly doubled amid improving consumer spending and a “growing sense of optimism” as pandemic lockdowns eased.
The California tech giant’s profit rose to $21.7 billion on growth in iPhone sales and its increasingly important digital services.
Revenue surged 36 percent from a year ago to $81.4 billion, the best ever for the tech titan’s fiscal third quarter.
“This quarter saw a growing sense of optimism for consumers in the United States and around the world, driving renewed hope for a better future,” chief executive Tim Cook told a conference call.
“We are especially humbled that our technology has continued to play a key role in keeping our customers connected.”
Cook said an easing of pandemic lockdowns helped boost consumer spending in many parts of the world, with Apple benefitting from that.
He maintained that Apple can continue to grow as consumers seek new devices for superfast 5G wireless networks.
“We’re only in the early innings of 5G, but already its incredible performance and speed have made a significant impact on how people can get the most out of our technology,” he said.
“Customers love iPhone 12 for its superfast 5G speeds.”
Apple shares were little changed in after-market trading following the results, which were stronger than most forecasts.
Revenue from iPhone sales jumped some 50 percent and posted increases for its services such as digital payments, music, streaming television and gaming.
The results come with Apple and other tech giants facing heightened pressure from antitrust enforcers around the world for their dominance of key economic sectors, which has increased during the pandemic.
