Another excellent quarter for Apple, as the company posted $81.4 billion in revenue. Thatâ€™s a 36% year-over-year jump for the company, besting Wall Street estimates of $73.3 billion by a considerable margin.
â€œOur record June quarter operating performance included new revenue records in each of our geographic segments, double-digit growth in each of our product categories, and a new all-time high for our installed base of active devices,â€ CFO Luca Maestri said in a release. â€œWe generated $21 billion of operating cash flow, returned nearly $29 billion to our shareholders during the quarter, and continued to make significant investments across our business to support our long-term growth plans.â€
Some strong figures for the company all around here, but it was iPhone sales and subscription services that continued to lead the way â€” a familiar story for anyone whoâ€™s followed the company the last several quarters.
iPhone sales increased from $26 billion to $39.5 billion, on the continued strength of the companyâ€™s long-waited push into linewide 5G, while services rose from $13.1 billion to $17.5 billion for the quarter. Apple has continued to grow its services offerings, which now includes Music, TV+, iCloud, Arcade, News+ and Fitness+. The company clearly sees the subscription portfolio as the future of its revenue model.
Greater China proved a strong market for the company in the third fiscal quarter. The company posted $14.76 billion in sales for the region, a more than 50% increase over the same time last year. The Americas region, meanwhile, rose from $ 27 billion to $35.89.
In the earnings report, CEO Tim Cook made reference to pandemic-related issues, which highlighting broader societal focuses for the company.
â€œThis quarter, our teams built on a period of unmatched innovation by sharing powerful new products with our users, at a time when using technology to connect people everywhere has never been more important,â€ said Tim Cook, Appleâ€™s CEO. â€œWeâ€™re continuing to press forward in our work to infuse everything we make with the values that define us â€” by inspiring a new generation of developers to learn to code, moving closer to our 2030 environment goal, and engaging in the urgent work of building a more equitable future.
The company once again declined to offer guidance, owing to uncertainties during the pandemic. On a followup call with investors, however, Maestri noted, â€œWe expect revenue growth to be lower than our June Quarter.â€ The CFO cited various issues including foreign exchange rates with the U.S. dollar, a slow down in the growth rate of services and continued supply chain issues for its hardware offerings.