Despite the pandemic, Apple has spent most of the past two years continually updating its product line, and its moves are definitely paying off. The company just announced financial results for the third quarter of its fiscal year (for ordinary people from April to June), and made a shocking amount of money. All product segments (iPhone, Mac, iPad, Services and Wearable / Home / Accessories) increased revenue year over year, bringing total revenue to $ 81.4 billion. As is often the case, iPhone revenue of $ 39.6 billion was nearly half that amount.
Quarterly revenues were up 36% over the same period last year, and therefore profits also grew significantly – in fact, they almost doubled. Apple’s net income was $ 21.7 billion, up 93 percent from a year ago.
As mentioned, all of Apple’s product categories grew in the last quarter, but the iPhone won the most. Revenue was up 50 percent from the same period last year, making it clear that the iPhone 12 lineup is a big success for the company. Apple Services continues to grow rapidly; Revenue of $ 17.5 billion represents 33 percent growth, and this category generates more than double the money of any other Apple division, with the obvious exception of the iPhone.
The Wearables, Home & Accessories group is bringing Apple Watch with devices such as the HomePod mini and new AirTags. It grew 36 percent and generated $ 8.8 billion in revenue. Mac and iPad showed more modest gains, with Mac revenue growing 16 percent year over year to $ 8.2 billion, while iPad revenue grew 12 percent to $ 7.4 billion. While the number of Macs is underwhelming as a service, it doesn’t cost anything because just a few years ago Mac revenue was pretty steady, hovering in the $ 4 billion range for a while, but it looks like the move to the M1 Mac has helped. stimulate some big increases.
As usual, Apple CEO Tim Cook is having a talk with investors – we’ll update this story with whatever we learn.
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