Ap­ple posts its best ever third quar­ter num­bers

Boom­ing Ap­ple Watch and AirPod sales, while iPhone sales were flat and Mac sales flat­tened. Michael Si­mon re­ports

Macworld - - CONTENTS -

An­other quar­ter, an­other record for Ap­ple. For the three-month pe­riod end­ing 30 June, Ap­ple posted its best third-quar­ter num­bers ever, with rev­enue of $53.3 bil­lion, a 17 per­cent year-over-year growth. Earn­ings per share came in at a whop­ping $2.34, up 40 per­cent from last year and blow­ing away an­a­lyst es­ti­mates of $2.19.

Now for the im­por­tant num­bers. In Q3 2018, which saw no sig­nif­i­cant prod­uct re­leases, Ap­ple sold 41 mil­lion iPhones (about the same as last year), 11.6 mil­lion iPads (slightly more than last year), and just 3.7 mil­lion Macs (rep­re­sent­ing a 13 per­cent year-over-year de­cline). How­ever, the new MacBook didn’t re­lease un­til af­ter the quar­ter ended, so Ap­ple will likely make up that short­fall next quar­ter. While Ap­ple doesn’t break out iPhone sales by model, it clearly sold a bunch of iPhone X de­vices, as the av­er­age sell­ing price was $724 (around £559), more than $100 (around £77) higher than last year and just $4 (around £3) less than the prior quar­ter, which Tim Cook said was dom­i­nated by the iPhone X.

Speak­ing of next quar­ter, Ap­ple ex­pects to re­port rev­enue be­tween $60 bil­lion and $62 bil­lion, which would rep­re­sent yet an­other record. Last year Ap­ple posted rev­enue of $52.6 bil­lion in Q4. Per­haps more im­por­tantly, it gives some in­di­ca­tion that at least some new iPhones will go on sale in Septem­ber.

Ap­ple posted growth in every ge­o­graphic re­gion, par­tic­u­larly in greater China where it re­veal­ing a 19 per­cent growth for the seg­ment af­ter re­port­ing a 10 per­cent loss last year.

In Ap­ple’s ‘Other’ cat­e­gory, which in­cludes AirPods, Ap­ple Watch, Ap­ple TV, and HomePod, Ap­ple posted rev­enue of $3.7 bil­lion, a 40 per­cent year-over-year in­crease. Cook specif­i­cally called out Ap­ple’s wear­able prod­ucts, say­ing that the record-set­ting re­sults were driven by re­sults were

driven by “con­tin­ued strong sales of iPhone, Ser­vices and Wear­ables” rep­re­sent­ing a 60 per­cent year-over-year boost. He also noted Ap­ple Watch de­liv­ered a record June quar­ter per­for­mance, though he de­clined to of­fer any spe­cific num­bers.

Ap­ple’s stock jumped over $5 on the news, inch­ing ever closer to a mile­stone $1 tril­lion mar­ket cap. As we see on page 20, it would be the first com­pany to ever achieve a 10-fig­ure mar­ket cap if it reaches it soon, and af­ter to­day’s num­bers it seems in­evitable.

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