Despite all kinds of global restrictions, Apple is still doing well. The company generated $83 billion in revenue in the quarter. Apple made this known during a conversation with investors. This is an increase of two percent compared to the same period last year. At that time there was a turnover of 81.4 billion dollars.
With these numbers, Apple is doing slightly better than analysts had previously estimated. They thought that the manufacturer would turn around $82 billion. The share price appreciation is $1.20. Analysts expected this to come in at around $1.16. So there has also been a profit.
Apple’s third quarter results
Recently released products sold well in the past quarter. Think of the iPhone SE, the Studio Display and the Mac Studio. During this past quarter, Apple also presented the new MacBook Air and Pro. However, those releases (still) had little impact on the figures.
Unfortunately, Covid-19 also had an effect on Apple’s business in this third financial quarter. Although Apple only makes general statements about this, the company warned of a possible drop in revenue of four to eight billion dollars. In the end, the decline was not that bad.
iPhone still a popular category
iPhone sales reached $40.6 billion, which is $1 billion more than last year. iPad sales fell again, but still brought in $7.22 billion (compared to $7.37 billion a year earlier). The company’s revenue from the Mac also fell, to 7.38 billion.
Then we have other categories such as wearables, home appliances and accessories. That branch also underperformed with sales of 8.08 billion, compared to 8.8 billion a year earlier. Services are on the rise again, with 19.6 billion (that was 17.4 billion last year). Anyway, all in all, not a bad quarter.
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