Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post

Apple Reports Increase of Third Quarter Revenue by 40 Per Cent

- Advertisement -

Apple shipped 41.3 million units of iPhones with the release of iPhone X and iPhone 8 series contributing to the sales and increase of Average Selling Price

Apple revenues, apple quarterly sales, Apple shares, Apple Watch, Apple services, Apple CEO, Tim cook, Apple fiscal report
Image courtesy: Flickr

Apple announced its third-quarter earnings report for the fiscal year 2018-19 on Tuesday and the company has reported a quarterly revenue of US$ 53.3 billion, which is a hike of 17 per cent from the corresponding quarter of the previous fiscal year of 2017-18.

Apple saw its net quarterly profit increase to US$ 11.5 billion

The world’s largest technology firm, Apple’s overall revenue in the third quarter of the previous year fiscal year 2017-18 was US$ 45.4 billion and the net quarterly profit was US$ 8.7 billion. The quarter of this fiscal that ended on June 30, saw a surge by 40 per cent from the output that was reported last year. International sales of the company contributed to 60 per cent of the overall revenue in the quarter under review.

- Advertisement -

Apple shipped 41.3 million units of iPhones in the quarter under review. However, amidst the good output in this quarter, the shipment report is a decrease of 21 per cent as compared to the second quarter of this fiscal when the company had shipped 52.2 million shipments. However, in comparison to the same quarter in the previous year, iPhone sales have gone up by 1 per cent and the overall revenue from iPhones sales till now in this fiscal as compared to the previous fiscal, has also seen an increase of 20 per cent.

Apple’s Chief Financial Officer (CFO), Luca Maestri, stated that iPhone’s Average Selling Price (ASP) also increased by US$ 118 with the current number standing at US$ 724, up from US$ 606 a year before. Maestri pointed out that the sales of iPhone X and iPhone 8 and 8 Plus have helped cater to the increase of ASP. Bloomberg noted that even with the pricey iPhone X release, which showed poor sales, the company was able to attain a good Q3 result this fiscal – because even with sales of lesser volumes, numbers grew in double digits.

In an investor’s earnings call, Tim Cook, Apple’s CEO said: “Revenue was up 20% year-over-year and our active installed base grew by double-digits, driven by switchers, first-time smartphone buyers and our existing customers whose loyalty we greatly appreciate. iPhone X was the most popular iPhone in the quarter once again…We expect strong growth from iPhone, from services and from wearables, which has been a bit of our pattern during the course of the year.”

Other products, iPad & Services results showed good numbers while Mac declines again

Apple Services have been a big hit in the recent times. The revenue in this section rose by 31 per cent on yearly-basis with the overall revenue standing at US$ 9.5 billion versus the numbers a year back when revenue stood at US$ 7.2 billion. Additionally, Apple Pay has crossed more than 1 billion transactions and Apple Music with a current customer base of 50 million listeners, claim to be the market leader in North America and Japan.

 We recently reported that Apple watches shipped 3.5 million products all over the world with Asia contributing the most. India helped Asia sales for the company take a soar after a successful collaboration between Apple and Reliance Jio and Bharti Airtel, respectively, had happened last year. Through this partnership, Jio and Airtel released special plans to promote the e-SIM enabled Apple Watch Series 3 LTE variant that also contributed to the greatest number of sales in the company’s overall shipments.

The company’s iPad numbers also saw a sequential increase of 27 per cent with 11.5 million shipments in this quarter – a surge from the 9.1 million iPad shipped in the second quarter of the current fiscal. However, much like the iPhones, this was just a 1 per cent jump. Apple faced a 5 per cent decline in its iPad revenue on yearly-basis.

Other products of Apple such as AirPods, Beats headphones, HomePod, iPod Touch, Apple TV, Apple Watch and other accessories experienced a total revenue of US$ 3.7 billion – up by 37 per cent on yearly-basis growth from last year when it was US$ 2.7 billion. However, on a sequential basis, it was a drop by 5 per cent.

Cook said, “We’re thrilled to report Apple’s best June quarter ever, and our fourth consecutive quarter of double-digit revenue growth.”

He added, “Our Q3 results were driven by continued strong sales of iPhone, Services and Wearables, and we are very excited about the products and services in our pipeline.”

However, Apple Mac numbers declined in the Q3 report. In this quarter, 4.07 million shipments of Mac had occurred, which was down from 4.2 million units in the same quarter of 2017-18. Additionally, the product faced a 13 per cent yearly drop in terms of units as well as a 5 per cent drop in revenue.

Goals for the upcoming fourth quarter in fiscal 2018-19

The company has laid down its mission for the forthcoming fourth quarter of the current fiscal year of 2018-19 as well. It said that it targets to achieve an overall revenue between US$ 60 billion to US$ 62 billion – crossing Wall Street prediction of US$ 59.47 billion Also, the gross margin is expected to be between 38 per cent and 38.5 per cent with operating expenses weighing down between US$ 7.95 billion and US4 8.05 billion. For the company’s other income/expenses, the number has been set to US$ 300 million.

Besides these, Apple’s board of directors have announced a cash dividend of US$ 0.73 per share of the company’s common stock. The dividend is payable on August 16 to shareholders of record as of the close of business on August 13.

- Advertisement -

Most Popular Articles

STMicroelectronics’ Solar Deal Boosts Green Operations In Malaysia

0
For its Malaysia facility, STMicroelectronics powers up sustainability with 21-year solar deal with ENGIE Renewable, driving its goal to go carbon-neutral and 100% green...
Mercedes Benz

Mercedes Benz Initiates Q4 2024 EQ Sales Challenge To Boost Sales In US EV...

0
The incentive comprises a $2,000 bonus per EV sale, with an additional $1,000 available for dealers meeting specific monthly sales targets. Mercedes-Benz has initiated the...
Stellantis-Infineon Partnership

Stellantis Partners Infineon To Develop Power Architecture For Next-Gen EVs

0
Infineon has an overall market share of 29 percent in the international automotive microcontroller market. The global automotive manufacturing company Stallintis has partnered with Infineon...

KeenSemi Partners With VLSI Expert To Upskill Engineers

0
Boosting India's tech ecosystem, KeenSemi partners with VLSI Expert to address the semiconductor talent shortage, offering intensive training for engineers. Semiconductor designer KeenSemi has signed...
EV Scheme-India

Union Cabinet To Revamp New EV Scheme To Bolster Investments From Global EV Firms

0
In the second workshop, feedback from numerous companies who are keen to import high-end vehicles at reduced taxes will be collated. In an effort to...

“Adoption Of IoT-Enabled SMT Machines Is Still In Early Phases” – Pradeep Tandon, Director...

0
While electronics are becoming smarter through the Internet of Things, is electronics manufacturing following suit? Pradeep Tandon, Director for India, Middle East, and SAARC...
Dr Yashodhan P. Gokhale, Vice President for Battery Technology, JSW Energy

Charge Forward: High-Voltage Batteries And MSMEs Can Fuel India’s EV Revolution

0
A nuanced explanation of low- and high-voltage EV batteries by Dr Gokhale, Vice President for Battery Technology at JSW Energy, illuminates their advancements and...
Sanjay Gupta, CDO & Global Head of Engineering, L&T Semiconductor Technologies

Can MSMEs Contribute And Profit From The Semicon Boom?

0
Semiconductor manufacturing often requires significant investment, typically feasible only for governments or large corporations. But are there opportunities for MSMEs as well? We spoke...
N.P. Ramesh, COO and Co-Founder, Orb Energy

“We Ensured Customers’ Monthly EMI Would Be Equal To Or Less Than Their Electricity...

0
In a conversation with Nitisha from EFY, N.P. Ramesh of Orb Energy outlines the early financing challenges customers faced. He explains how Orb Energy’s...

“Government Policy Should Equitably Address All Electric Vehicles: Extend Subsidies To Retrofits Or Remove...

0
Aryaman Raghuvanshi from EFY engages with Pramod Narendra, Head of Brand Management and Retail Network at Starya Mobility, to explore the overlooked potential of...

Wireless Light-Based Communication With Velmenni’s Technology

0
Velmenni is at the forefront of wireless communication innovation with its pioneering light-based technologies, Li-Fi and LC Link. Founded by Deepak Solanki in October 2014...

Harnessing AI Technology For Efficient Pest Management

0
AI-Genix, an agri-tech startup, is transforming pest management for farmers through advanced AI-enabled systems that precisely target harmful pests. In an industry where pesticides and...

One Charger To Charge All Your Devices

0
Now, there is no need to carry different chargers for different products. This Bhubaneswar startup has launched a universal 65W charger using GaN technology...

Karnataka Government Initiative Promises ₹5M To Tech Startups

0
Boosting innovation and entrepreneurship across the state’s vibrant ecosystem, Karnataka launched Elevate 2024 and KAN, offering grants up to ₹5 million for startups. On Tuesday,...

CastNX Tech Startup Secures ₹232M For Power Electronics Growth

0
Eyeing to boost R&D and produce 100,000 variable frequency drives by 2026, Indian power electronics startup CastNX has secured ₹232.2 million from Plutus Investments. CastNX...

Industry's Buzz

STMicroelectronics’ Solar Deal Boosts Green Operations In Malaysia

0
For its Malaysia facility, STMicroelectronics powers up sustainability with 21-year solar deal with ENGIE Renewable, driving its goal to go carbon-neutral and 100% green...
Mercedes Benz

Mercedes Benz Initiates Q4 2024 EQ Sales Challenge To Boost Sales In US EV...

0
The incentive comprises a $2,000 bonus per EV sale, with an additional $1,000 available for dealers meeting specific monthly sales targets. Mercedes-Benz has initiated the...
Stellantis-Infineon Partnership

Stellantis Partners Infineon To Develop Power Architecture For Next-Gen EVs

0
Infineon has an overall market share of 29 percent in the international automotive microcontroller market. The global automotive manufacturing company Stallintis has partnered with Infineon...

KeenSemi Partners With VLSI Expert To Upskill Engineers

0
Boosting India's tech ecosystem, KeenSemi partners with VLSI Expert to address the semiconductor talent shortage, offering intensive training for engineers. Semiconductor designer KeenSemi has signed...
EV Scheme-India

Union Cabinet To Revamp New EV Scheme To Bolster Investments From Global EV Firms

0
In the second workshop, feedback from numerous companies who are keen to import high-end vehicles at reduced taxes will be collated. In an effort to...

Learn From Leaders

“Adoption Of IoT-Enabled SMT Machines Is Still In Early Phases” – Pradeep Tandon, Director...

0
While electronics are becoming smarter through the Internet of Things, is electronics manufacturing following suit? Pradeep Tandon, Director for India, Middle East, and SAARC...
Dr Yashodhan P. Gokhale, Vice President for Battery Technology, JSW Energy

Charge Forward: High-Voltage Batteries And MSMEs Can Fuel India’s EV Revolution

0
A nuanced explanation of low- and high-voltage EV batteries by Dr Gokhale, Vice President for Battery Technology at JSW Energy, illuminates their advancements and...
Sanjay Gupta, CDO & Global Head of Engineering, L&T Semiconductor Technologies

Can MSMEs Contribute And Profit From The Semicon Boom?

0
Semiconductor manufacturing often requires significant investment, typically feasible only for governments or large corporations. But are there opportunities for MSMEs as well? We spoke...
N.P. Ramesh, COO and Co-Founder, Orb Energy

“We Ensured Customers’ Monthly EMI Would Be Equal To Or Less Than Their Electricity...

0
In a conversation with Nitisha from EFY, N.P. Ramesh of Orb Energy outlines the early financing challenges customers faced. He explains how Orb Energy’s...

“Government Policy Should Equitably Address All Electric Vehicles: Extend Subsidies To Retrofits Or Remove...

0
Aryaman Raghuvanshi from EFY engages with Pramod Narendra, Head of Brand Management and Retail Network at Starya Mobility, to explore the overlooked potential of...

Startups

Wireless Light-Based Communication With Velmenni’s Technology

0
Velmenni is at the forefront of wireless communication innovation with its pioneering light-based technologies, Li-Fi and LC Link. Founded by Deepak Solanki in October 2014...

Harnessing AI Technology For Efficient Pest Management

0
AI-Genix, an agri-tech startup, is transforming pest management for farmers through advanced AI-enabled systems that precisely target harmful pests. In an industry where pesticides and...

One Charger To Charge All Your Devices

0
Now, there is no need to carry different chargers for different products. This Bhubaneswar startup has launched a universal 65W charger using GaN technology...

Karnataka Government Initiative Promises ₹5M To Tech Startups

0
Boosting innovation and entrepreneurship across the state’s vibrant ecosystem, Karnataka launched Elevate 2024 and KAN, offering grants up to ₹5 million for startups. On Tuesday,...

CastNX Tech Startup Secures ₹232M For Power Electronics Growth

0
Eyeing to boost R&D and produce 100,000 variable frequency drives by 2026, Indian power electronics startup CastNX has secured ₹232.2 million from Plutus Investments. CastNX...