Apple reports second quarter results: Hits and some misses
Gadgets Now Bureau | Aug 1, 2018, 06.17PM IST
Apple has reported its third quarter results for the fiscal. The Cupertino-based smartphone giant posted another record performance during the just-concluded quarter with CEO Tim Cook terming it company's "best-ever June quarter". "We're thrilled to report Apple's best June quarter ever, and our fourth consecutive quarter of double-digit revenue growth," Cook said during the earnings release. "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," added Apple CEO. Here are some hits and misses from the quarter
Hit: Apple is making more money per iPhone
The average selling price (ASP) for iPhones grew 20 percent to $724 per iPhone, up from $606 during the same quarter a year ago.
Hit: iPhone X is still the most-loved iPhone
Apple's anniversary iPhone, iPhone X, which starts at $999 in the company's key market US, continues to be the most popular iPhone. "iPhone X was the most popular iPhone in the quarter once again, with a customer satisfaction score of 98 percent according to 451 Research," said Apple CEO Tim Cook.
Hit: App Store revenue surges
The company's revenue from App Store, music subscriptions and other services touched $9.5 billion, setting another record. The number of Apple Music subscribers globally crossed 50 million.
Hit: Apple Watch and Home Pod too showed impressive growth
In another positive for the company, the revenue in the division for miscellaneous hardware, which includes Apple Watch and HomePod smart speaker, grew 37 percent to $3.7 billion.
Hit: The company remains one of the richest corporates globally
Apple's net cash stood at $129 billion, according to a Reuters report.
Miss: Apple loses its No. 2 position in the global smartphone market to Huawei
Apple is no longer the world's second-biggest smartphone company. It lost the No. 2 slot to Huawei during the April to June quarter. Huawei gained second position with total smartphone shipment of 54.2 million globally during the second quarter compared to Apple's 41.3 million.
Miss: iPhone unit sales grow just 1%
Apple iPhone unit sales increased just 1 percent from a year ago. The company sold 41.3 million iPhones during the quarter that ended June 30, this is marginally less than 42 million figure anticipated by analysts.
Miss: Revenue from iPads and Macs falls
Apple saw revenue decline in both iPad and Mac computers. The company's revenues from iPads fell to $4,741 million during the quarter compared to $4,969 during the same quarter last year. The revenue from Macs too fell by 5 percent compared to the same quarter last year.
Hit: Apple is making more money per iPhone
The average selling price (ASP) for iPhones grew 20 percent to $724 per iPhone, up from $606 during the same quarter a year ago.
Hit: iPhone X is still the most-loved iPhone
Apple's anniversary iPhone, iPhone X, which starts at $999 in the company's key market US, continues to be the most popular iPhone. "iPhone X was the most popular iPhone in the quarter once again, with a customer satisfaction score of 98 percent according to 451 Research," said Apple CEO Tim Cook.
Hit: App Store revenue surges
The company's revenue from App Store, music subscriptions and other services touched $9.5 billion, setting another record. The number of Apple Music subscribers globally crossed 50 million.
Hit: Apple Watch and Home Pod too showed impressive growth
In another positive for the company, the revenue in the division for miscellaneous hardware, which includes Apple Watch and HomePod smart speaker, grew 37 percent to $3.7 billion.
Hit: The company remains one of the richest corporates globally
Apple's net cash stood at $129 billion, according to a Reuters report.
Miss: Apple loses its No. 2 position in the global smartphone market to Huawei
Apple is no longer the world's second-biggest smartphone company. It lost the No. 2 slot to Huawei during the April to June quarter. Huawei gained second position with total smartphone shipment of 54.2 million globally during the second quarter compared to Apple's 41.3 million.
Miss: iPhone unit sales grow just 1%
Apple iPhone unit sales increased just 1 percent from a year ago. The company sold 41.3 million iPhones during the quarter that ended June 30, this is marginally less than 42 million figure anticipated by analysts.
Miss: Revenue from iPads and Macs falls
Apple saw revenue decline in both iPad and Mac computers. The company's revenues from iPads fell to $4,741 million during the quarter compared to $4,969 during the same quarter last year. The revenue from Macs too fell by 5 percent compared to the same quarter last year.
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