advertisement
Facebook
X
LinkedIn
WhatsApp
Reddit

iPhone sales help Apple post strong Q3 revenue

This week a number of big tech firms are sharing their quarterly results and Apple is no different. The company shared its figures for Q3 2021, which ended on 26th June and the numbers make for pleasing reading if you’re an Apple investor. This as the company posted a Q3 revenue of $81.4 billion, which is up 36 percent year-on-year, thanks in no small part to sales of the iPhone and subscription services.

Regarding the former, iPhone sales increased from $26 billion to $39.5 billion, as it looks like consumers were ready to snap up the 5G-supporting iPhone lineup.

“Our record June quarter operating performance included new revenue records in each of our geographic segments, double-digit growth in each of our product categories, and a new all-time high for our installed base of active devices,” noted Luca Maestri, Apple’s CFO regarding the report.

“We generated $21 billion of 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,” he added.

As for services, which we have seen Apple dedicate more focus and investment in over the past year, that segment grew from $13.1 billion to $17.5 billion this quarter.

While Apple slipped down the ranks slightly in terms of smartphone shipments recently, it looks like the breadth of services it has to offer have helped to cushion any shortcomings in other areas.

“This quarter, our teams built on a period of unmatched innovation by sharing powerful new products with our users, at a time when using technology to connect people everywhere has never been more important,” enthused Tim Cook, Apple CEO.

As for what the coming quarters will hold, Apple has remained unwilling to provide guidance or predictions, with the uncertainty created by the pandemic and shortages in components across the board, creating a spectre of doubt.

advertisement

About Author

advertisement

Related News

advertisement