Apple smashes June quarter records with US$21.4B profit on US$81.4B revenue
Apple smashes June quarter records with US$21.4B profit on US$81.4B revenue
Apple has smashed its June quarter records with another blockbuster quarter.
In its latest financial results, Apple said it had revenues of US$81.4 billion and a net quarterly profit of US$21.7 billion.
That means revenue was up an amazing 36% year-over-year. Profit, on the other hand, was up an staggering 92% year-over-year.
These numbers are impressive because the June quarter is typically a slow time for the company. History suggests most people hold back on purchasing new iPhones because new ones are on the way.
Despite this, iPhones alone brought in US$39.6 billion in sales for the company which CEO Tim Cook attributed to a high number of upgraders and users swapping over from an Android device.
Apple's record June quarter was also fuelled by the Services category setting an all-time record of US$17.5 billion. This division consists of the App Store, Apple Music, Apple TV+, Apple Arcade, Apple Pay, and more.
Apple's Wearables and Home category also set new June records after bringing in US$8.8 billion – up 36% from the same period last year.
Mac and iPad sales were also strong. Mac revenues were US$8.2 billion – an increase of 16% from the same quarter last year. iPad sales saw moderate growth of 12% as they took in US$7.4 billion.
Apple is expected to unveil its newest iPhones in late September this year.
Source: Apple