Apple grows revenues 1% as services expansion offsets lower iPhone sales

Nieuws Mobiel Wereld 31 JUL 2019
Apple grows revenues 1% as services expansion offsets lower iPhone sales

Apple reported revenues up 1 percent year-on-year to USD 53.8 billion in its fiscal third quarter to June, in line with its outlook and led by record revenue from services. Quarterly earnings fell 7 percent to USD 2.18, but were better than market expectations. 

Revenues from the iPhone fell 11.8 percent to USD 26 billion, while services grew 12.6 percent to USD 11.5 billion. Mac revenues were up 10.7 percent to USD 5.8 billion, and iPads rose 8.3 percent to USD 5 billion. The 'other' segment including wearables, accessories and home products contributed USD 5.5 billion in revenue, up 48 percent.  

CEO Tim Cook said the strong quarter was due to "all-time record revenue from Services, accelerating growth from Wearables, strong performance from iPad and Mac and significant improvement in iPhone trends". With "promising" results across all regions, Cook said the company was "confident about what’s ahead", including upcoming "major launches on all of our platforms, new services and several new products". 

For the fiscal fourth quarter, when Apple is expected to launch new iPhone models, the company forecast revenues of USD 61-64 billion, compared to USD 62.9 billion a year ago.

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Production planning & operations, Launch, Product specifications & quality, Consumer devices, Finance, Pricing, Handsets

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