DTechnology group Apple reported that sales in all product groups and regions in the third quarter achieved double-digit percentage growth. The company exceeded analysts’ average expectations with a turnover of $81.43 billion and a comparable quarter last year. The increase here is 36%. Apple’s profits have doubled, from 11 billion U.S. dollars to just under 22 billion U.S. dollars.
The most important source of sales is still the iPhone. Apple achieved 39 billion U.S. dollars, accounting for almost half of total sales. Compared with the same period last year, this is equivalent to an increase of 50%. High growth is unusual because customers usually hesitate to buy in the second quarter because of expectations for new products.
1 billion iPhones are in use
Chief Executive Officer Tim Cook Said that there are currently 1 billion iPhones in operation, and the total number of Apple devices is approximately 1.65 billion. Cook pointed out that although the ultra-high-speed Internet standard 5G is still in its infancy in most regions, sales of the iPhone 12 have been successful. The equipment is designed for new technologies.
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With the particular success of smartphones, the composition of sales has changed, at the expense of other products such as laptops. ipad Or services, including cloud services, music and movie programs, or payment services. Mac computers, iPads and watches also grew strongly, albeit weaker than the iPhone. The revenue share of these services in the quarter was 21%, which was slightly lower than 18% in the first nine months.
The impact of the pandemic
According to Chief Financial Officer Luca Maestri, although computers and iPad benefit from the fact that many people are still working or attending classes at home due to the pandemic, products that require more explanation, such as the new iPhone and Apple Watch, have suffered. In fact, many of the group’s branches around the world, but the sales outlets of telecommunications partners are still closed. According to Maestri, entertainment services such as Apple Music and Apple TV benefit from the fact that there are not many other changes. Cook emphasized the success of the “Ted Lasso” series produced for Apple, which apparently impacted the spirit of the times with its decent message.
The shortage of microchips, especially in the automotive industry, has not spared Apple. Therefore, in April, Apple calculated sales that were between $300 million and $5 billion less than other methods. Now, CFO Maestri has been able to announce that the loss has been reduced. For the fourth quarter of Apple’s fiscal year ending at the end of September, sales growth is expected to be lower than that of the third quarter. Currency changes and procurement issues are the reasons for this situation. Apple paid $29 billion to shareholders in the third quarter.
