Apple has reported quarterly revenue of $53.3 billion, up 17 % over last year with a net profit of $11.5 billion, up 32.1% YoY or earnings per share of $2.34, an increase of 40% over last year in their earnings for the financial year Q3 2018 that ended June 30, 2018. During earnings call Tim Cook said that the growth was due to strong performance of iPhone, services and wearables.
Apple CEO Time Cook, during earnings call said that iPhone had a very strong quarter, and revenue from iPhone was up 20% year-over-year and the active installed base grew by double-digits, driven by switchers, first time smartphone buyers and existing customer. iPhone X was the most popular iPhone in the quarter once again, with a customer satisfaction score of 98% according to 451 Research.
- Services sector generated all-time record revenue of $9.5 billion fueled in part by double-digit growth in the overall active installed base
- Apple Music grew by over 50% on a year-over-year basis
- Siri requests have already exceeded 100 billion so far this fiscal year
- Apple Pay continues to expand with well over 1 billion transactions last quarter, triple the amount from just a year ago
- Apple Pay is now live in 24 markets worldwide with over 4,900 bank partners
- Wearables which comprises Apple Watch, AirPods and Beats was up over 60% year-over-year
- Wearables revenue exceeded $10 billion over the last four quarters
- Apple Watch delivered record June quarter performance with growth in the mid 40% range
Apple sold
- 41.3 million iPhones compared to 41.03 million a year ago, with double-digit unit growth in several markets including the U.S., Canada, Germany, Switzerland, Mexico, Hong Kong, Russia, the Middle East and Africa
- 3.7 million Macs compared to 4.29 million a year ago, with growth well into double digits and new June quarter records for Mac sales in India, Turkey, Chile and Central and Eastern Europe
- 11.55 million iPads compared to 11.4 million a year ago, with double digit growth in both Greater China and rest of Asia Pacific segments with a new June quarter record for iPad sales in Mainland China
Apple opened 50th retail store in Greater China during the quarter and opened a new store in Milan last week, bringing the number of stores located outside the U.S. to 46% of the total.
Apple expects revenue between $60 billion and $62 billion and gross margin between 38 and 38.5 percent for FY Q4 2018.