Apple smashes another fiscal record, reaches 17% increase in revenue

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Apple announced its financial results for the third fiscal quarter between April and June. Cupertino amassed $ 53.3 billion of revenue, 17% more than the same period last year, Tim Cook announced in a press release. This is “the best June quarter ever and our fourth consecutive quarter of double-digit revenue growth,” he added.

All four geographic regions posted revenue growth YoY, even if international sales were 60%, while the other 40% came from the domestic US market. This is good news for shareholders which saw a 40% increase in their earnings up to $ 2.34 per share.

Apple sold over 41 million iPhones between April and June, gathering nearly $ 29,9 billion in revenue, reaching and average retail price of nearly $ 725 for a smartphone. The iPads also impressed with sales – 11,5 million units in three months, posting an increase in volume but a 5% decrease in revenue due to the relatively low price of the iPad 9.7 (2018).

The Other Products section that includes AirPods, Apple TV, Apple Watch, the Beats headphones and other Apple-branded third-party products made an impressive 37% jump in revenue on a yearly basis, while the Services like Apple Care and Apple Pay posted a record-high revenue result of 9,5 billion.

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