These results compare to revenue of $42.1 billion and net profit of $8.5 billion, or $1.42 per diluted share, in the year-ago quarter.
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The revenue growth was fueled by sales of 48.04 million units of iPhone, the expanded availability of Apple Watch, Mac sales of 5.07 million units and revenue from services. Another bright spot is the enterprise market, where Apple pulled in revenues of $25 billion in its fiscal Q4, up 40% from the year-ago quarter.
Honda Motor chief executive Takahiro Hachigo told Reuters on October 28 that the Japanese carmaker could achieve its sales target in China but was cautious about increasing production.
Tim cook added, “Apple Watch has already had a tremendous effect on customer health and fitness and the stories we’re hearing about its impact are truly inspirational”.
In the past year, the company sold 21 million Macs, which continues “to defy the negative trend and the global personal computer market, which IDC estimates contracted by 11%”.
Apple is looking to diversify into other services such as its streaming music service and Apple Pay, and its new streaming television devices. In the fiscal, Apple’s business improved significantly in the emerging markets, which contributed over $79 billion in revenues, up 63% from the past year despite unfavorable currency translations.
The revenue-generator for the Cupertino-based firm is the iPhone since iPad sales are actually declining, while analysts are still watching the progress of Apple Watch sales which continue to be weak.
Sales of the iPhone have helped Apple record another quarter of booming profits despite reports of an economic slowdown in China.
Geek Wire reported that Apple’s third quarter sales reached over $51 billion, while its income figures was placed at more than $11 billion. Among China’s 1.4 billion residents, many also do not have smartphones – which is probably why Apple is working to have the iPhone cater to the Chinese market, also launching it in the country on the day of its release.
Here are a few initial reactions to Apple’s earnings, which topped expectations late Tuesday as revenue also beat forecasts.
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The growth question is a quandary created by Apple’s own success. “We believe the impact of the narrowing upgrade window could provide an average annual tailwind of 10% to United States iPhone units over the next 3 years through CY18”.
