Apple s services business now stands at a record $17.5 billion.
The company now commands 700 million paid subscriptions across its services.
Apple s services business continues to play a more critical role in the growth of the company.
During the company s Q3 earnings call, Apple CFO Luca Maestri announced that the company s services business reached a new all-time revenue record of $17.5 billion. The CFO said that the performance was due to three things: growth of the installed base, the number of transacting and paid accounts on the company s digital content stores, and the growth of paid subscriptions.
Maestri noted that Apple has passed 700 million paid subscriptions, up by more than 150 million when compared to last year.
Apple Stock Price Sees Massive Surge: Will It Increase When iPhone 13 Releases?
Apple s stock price closes with massive profits, surpassing expectations and analyst predictions.
Photo : Sean Gallup/Getty Images
Apple s stock price closes with massive profits, surpassing expectations and analyst predictions.
With Apple stocks reaching new heights, investors wonder if this upward trend would hold until the iPhone 13 release, which is suspected to come out some time in September.
The tech giant started with slow sales for the first half of 2021. Back in January, Apple (AAPL) traded at $131.01. Values spiked briefly in April and traded at $134.72. However, after its dip to $123.54 in June, Apple stock saw a steady rise and was seeling at $146.77 by July 26, according to Market Watch
After trailing behind both the Mac and iPad sales in Apple s last quarter, revenue from wearables including Apple Watch have now exceeded both.
During Apple s latest earnings call, the company s figures showed a dramatic rise in the revenue from sales of what are officially classed as Wearables, Home and Accessories. At $8.8 billion, the 2021 quarter easily beat last year s $6.5 billion and last quarter s $7.8 billion. It was another very strong quarter for wearables home and accessories, which set a new quarter record by helping people find fun ways to stay entertained and connected at home and on the go, Apple CEO Tim Cook said on the call.
Apple crushes earnings expectations as iPhone sales soar 50%
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Apple Inc. delivered third-quarter financial results that crushed Wall Street’s expectations today, with iPhone sales up almost 50% compared to the year prior, but its stock fell in extended trading as it warned growth would likely slow in the next quarter.
The company reported a profit before certain costs such as stock compensation of $1.30 per share on revenue of $81.4 billion, up by an impressive 36% from a year ago. That surpassed expectations by some distance, with analysts forecasting a profit of just $1.01 per share on sales of $73.33 billion.
Apple Chief Financial Officer Luca Maestri hailed a “record operating performance” for the company, setting new revenue records in each of its geographic segments and double-digit growth in every product category.
The iPhone reached a new revenue record in the third quarter of 2021.
iPhone sales grew 50% quarter over quarter to $39.6 billion.
The iPhone continues to be Apple s cash cow as highlighted during its latest earnings call.
During today s earnings call, Apple CFO Luca Maestri announced that the iPhone achieved a June quarter revenue record of $39.6 billion, a growth of a whopping 50% year-over-year. Maestri says that the iPhone 12 lineup contributed heavily to the product s success in the quarter.
iPhone revenue set a June quarter record of 39.6 billion, growing 50 percent year over year and exceeding our own expectations as the iPhone 12 family continue to be in very high demand. Performance was consistently strong across the world and we grew very strong double digits in each geographic segment setting June quarter records in most markets we track. Our active installed base of iPhones reached a new all time high, thanks to the exceptional loyalty of our customer base and the str