Apple (AAPL) revenue Q3 2021
Apple reported robust monetary outcomes for the third quarter on Tuesday, shattering Wall Road expectations. Every of Apple’s main product traces grew by over 12% yearly.
Apple shares fell 1% in prolonged buying and selling.
Total, Apple’s income grew 36% from the June quarter of final yr. IPhone gross sales grew almost 50% yearly.
Listed here are the important thing numbers when in comparison with Wall Road expectations, in accordance with Refinitiv estimates:
- EPS: Estimated $ 1.30 vs. $ 1.01
- income: Estimated $ 81.41 billion versus $ 73.30 billion, 36% greater than final yr
- iPhone gross sales: Valued at $ 39.57 billion versus $ 34.01 billion, up 49.78% from final yr
- Gross sales of providers: $ 17.48 billion versus an estimated $ 16.33 billion, up 33% from final yr
- Gross sales of different merchandise: Estimated $ 8.76 billion versus $ 7.80 billion, 40% greater than final yr
- Mac gross sales: Estimated $ 8.24 billion versus $ 8.07 billion, 16% greater than final yr
- iPad gross sales: $ 7.37 billion versus $ 7.15 billion valued, 12% greater than final yr
- Gross margin: 43.3% vs. 41.9% estimated
Apple has not made any formal necessities for the sixth quarter in a row and for the reason that starting of the Covid-19 pandemic.
Apple additionally had a powerful quarter in its Larger China area, which incorporates Taiwan and Hong Kong along with the mainland. Apple reported $ 14.76 billion in income within the area, up 58% from the year-ago quarter, although that was a straightforward comparability on condition that China was in a lockdown interval throughout the quarter.
Gross sales in America grew almost 33% yr over yr to $ 39.57 billion.
Apple’s quarter, which ends in June, is often one of many slowest of the yr, however the firm has benefited from the home-working and distance-learning tendencies which have boosted gross sales of its premium computer systems.
Final yr’s June quarter was a document for the corporate’s income regardless of world lockdowns, making Apple rising even in comparison with a powerful base a yr in the past.
Prepare dinner talked about that the success was due not solely to folks upgrading their outdated iPhones, however Android prospects shopping for their first iPhone as properly.
“We noticed very robust double-digit will increase in each upgraders and switchers throughout the quarter,” mentioned Prepare dinner.
Apple’s quarter might have been even higher if it weren’t for provide bottlenecks, possible associated to world chip shortages, which primarily affected Mac and iPad gross sales.
“The scarcity primarily affected Mac and iPad,” Apple CEO Tim Prepare dinner instructed Josh Lipton to CNBC. “We had predicted that the bottlenecks would run to $ Three billion to $ four billion. However we truly managed to mitigate a few of that and we’re on the decrease finish of that vary.”
Apple’s providers enterprise additionally shook off investor fears that its development fee might sluggish as extra folks return to work and spend much less on on-line providers and apps. Companies grew 33% yr over yr, an acceleration from the 26.7% development fee final quarter.
Whereas Apple’s providers enterprise spans many merchandise and Apple does not break down the way it’s put collectively, Prepare dinner instructed CNBC that the corporate has damaged information in music, video, cloud providers, promoting and funds.
“It’s clear that our long-term funding in our service technique is profitable,” Prepare dinner instructed CNBC.
Apple now has 700 million paying subscribers, 150 million greater than final yr, Prepare dinner mentioned. Apple’s subscriber rely consists of prospects who’ve subscribed to an app via billing within the Apple App Retailer.
Prepare dinner additionally mentioned that as a result of Covid-19 scenario, Apple has postponed its return to its campus headquarters from September to not less than October.
“I’m very happy with what now we have been in a position to obtain on this totally remote-controlled mode,” mentioned Prepare dinner.
Apple has introduced a dividend of $ 0.22 per share. In an announcement, Apple mentioned it spent $ 29 billion on shareholder return throughout the quarter. Apple CFO Luca Maestri instructed CNBC that the corporate has repurchased almost $ 450 billion price of shares lately.