iPhone surge, all-time high for services revenue in Apple Q3 | Major Businesses | Business | News | Rapid TV News
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It seems a very long time since people were actually questioning whether the CE giant had hit a peak but Apple is back to storming the CE industry with record revenues for its June quarter and double-digit growth in each of its product categories.
apple new imac 29Apr2021
For the third quarter ended 26 June 2021, Apple posted a June quarter record revenue of $81.4 billion, up 36% year over year, and quarterly earnings per diluted share of $1.30. net income for the quarter almost doubled to $21.744 billion, while for the three quarters of the financial year, net income was $74.129 billion, rising 72.4% year-on-year.

Looking at individual lines of business, product sales for the quarter amounted to $63.948 billion, up 37.4% on an annual basis, with a running total for the year to date of $232.309 billion, up 36.2% compared with the first nine months of the previous financial year. iPhone sales for the quarter were $39.570 billion, up 49.8%, and $153.1 billion for the nine months, climbing 37.5% annually.

Services revenues were also on a marked upward trajectory, totalling $17.486 billion for the third quarter, up 32.9%, and $ 50.148 billion for the nine-month period, an annual rise of 27.9%.

“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,” said Tim Cook, Apple’s CEO commenting on the third quarter results. “We’re continuing to press forward in our work to infuse everything we make with the values that define us.”

“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,” added Luca Maestri, Apple’s CFO. “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.”