IPhone sales are burning for Apple's Wall Street striking Q3 - TechCrunch | MCUTimes

IPhone sales are burning for Apple’s Wall Street striking Q3 – TechCrunch

Another excellent quarter for Apple, as the company had sales of $ 81.4 billion. It’s a 36% year-over-year jump for the company, ordering Wall Street estimates of $ 73.3 billion. By a significant margin.

“Our record for the June quarter included new revenue records in each of our geographic segments, double-digit growth in each of our product categories and a new record high for our installed base of active units,” CFO Luca Maestri said in a release. “We generated $ 21 billion in operating cash flow, returned nearly $ 29 billion to our shareholders during the quarter and continued to make significant investments across our business to support our long-term growth plans.”

Some strong numbers for the company around here, but it was iPhone sales and subscription services that continued to lead – a well-known story for anyone who has followed the company in recent quarters.

Sales of the iPhone increased from 26 billion. dollars to 39.5 billion. dollars due to the continued strength of the company’s long-awaited push in the line-5G, while services increased from 13.1 billion. dollars to 17.5 billion. dollars in the quarter. Apple has continued to expand its services, which now include Music, TV +, iCloud, Arcade, News + and Fitness +. The company clearly sees the subscription portfolio as the future of its revenue model.

Greater China proved to be a strong market for the company in the third fiscal quarter. The company posted $ 14.76 billion in sales to the region, an increase of more than 50% over the same time last year. The Americas region, meanwhile, rose from $ 27 billion to $ 35.89.

In the earnings report, CEO Tim Cook referred to pandemic-related issues, which highlight the broader societal focus of the company.

“This quarter, our teams built on a period of unmatched innovation by sharing powerful new products with our users at a time when the use of technology to connect people everywhere has never been more important,” said Tim Cook, Apple’s CEO. . “We continue to push forward in our work to add everything we do with the values ​​that define us – by inspiring a new generation of developers to learn to code, get closer to our environmental goals in 2030 and engage us in the urgent work of building a fairer future.

The company again refused to offer guidance due to uncertainty during the pandemic. However, in a follow-up call with investors, Maestri noted, “We expect revenue growth to be lower than our June quarter.” The CFO cited various editions, including US dollar exchange rates, slower growth in services, and continued supply chain problems for its hardware offerings.

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