Our website uses cookies

Cookies enable us to provide the best experience possible and help us understand how visitors use our website. By browsing Essential Retail Magazine, you agree to our use of cookies.

Okay, I understand Learn more

Apple Q3 revenue tops $53bn

Apple CEO Tim Cook has said continued strong sales of iPhones and wearable devices, and growth in services, helped contribute to a hike in third-quarter revenue at the tech company and retailer.

For the three months to 30 June, sales were up by 17% to $53.3 billion, with quarterly earnings per diluted share of $2.34, up 40%. International sales accounted for 60% of the quarter’s revenue.

“We’re thrilled to report Apple’s best June quarter ever, and our fourth consecutive quarter of double-digit revenue growth,” explained Cook, who said he was excited about the products and services in the company’s pipeline.

Apple saw growth in each of its territories – with revenue up by 20% and 19% in the Americas and Greater China respectively. In Apple’s Rest of Asia, Europe and Japan segments, revenue jumped by 16%, 14% and 7%.

Sales of the iPhone during the quarter totalled 43.1 million, resulting in revenue of $29.9 billion – an increase of 20% year on year.

Service revenue, which covers digital content and services, AppleCare, Apple Pay, and licensing, jumped by 31%, while other product revenue – including sales of AirPods, Apple TV, Apple Watch, Beats products, HomePod, and iPod touch – leapt by 37%.

Apple iPad and Mac sales were both down by 5% year on year.

Luca Maestri, Apple’s CFO, commented: “We returned almost $25 billion to investors through our capital return program during the quarter, including $20 billion in share repurchases.”

Apple expects fourth-quarter revenue between $60 billion and $62 billion, and gross margin between 38% and 38.5%.

What’s Hot on Essential Retail?