Rampant iPhone sales elevate Apple in third fiscal quarter
Smartphones, Watch, Mac, App Store drive revenue growth of 33%
Propelled yet again by skyrocketing iPhone sales, Apple this week posted exceptional results for its fiscal third quarter ended June 27, edging out analysts' expectations.
Apple CEO Tim Cook praised third-quarter iPhone 6 and iPhone 6 Plus sales as attracting both new high-end and former Android phone users, as well as cranking the company forward in a quarter that is typically a struggling point for smartphone sales.
"We look at it as our job to grow our products regardless of the price, which means we need to convince people to move from one price point to another," Cook said. "If you look at the iPhone, you will see that in action."
The company said it sold 47.5m iPhones, up 35% from the same quarter a year ago, charging earnings of $1.85 per share on sales of $49.61bn.
The growth was fueled by record third quarter sales of iPhone and Mac, all-time record revenue from services and the successful launch of Apple Watch.
“We had an amazing quarter, with iPhone revenue up 59% over last year, strong sales of Mac, all-time record revenue from services, driven by the App Store, and a great start for Apple Watch,” added Cook. “The excitement for Apple Music has been incredible, and we’re looking forward to releasing iOS 9, OS X El Capitan and watchOS 2 to customers in autumn.”
Meanwhile, sales of the iPad fell about 18%, marking a sixth quarter of year-over-year declines, while the Mac business marked a brighter spot, as Mac sales increased 9% year over year.
Cook remained mum on Apple Watch sales, stating that sales of Apple's newest product, released in April, "exceeded expectations," but that he didn't want to reveal any numbers that might "give our competition insight on a product that we've worked really hard on."