Apple announced that iPhone revenue reached a new high of $39.6 billion in the June quarter, up 50% year over year and exceeding projections.
Consumers bought premium versions of Apple’s 5G iPhones and signed up for its subscription services, helping the company outperform analyst projections for third-quarter sales and profitability.
“This quarter for iPhone, we witnessed extremely strong double-digit growth in each geographic area, and we continue to be encouraged by our customers’ response to the iPhone 12 portfolio,” Apple CEO Tim Cook said.
Wearables, home, and accessories revenue increased 36% year over year to $8.8 billion in the June quarter, breaking new June quarter revenue records in every geographic area.
Apple set an all-time revenue record of $17.5 billion in the Services vertical.
Despite substantial supply restrictions, iPad performance was also good, with revenue of $7.4 billion, up 12%.
“Many top enterprise organizations are rapidly adopting the MacBook Air with M1,” Apple added.
“Despite supply concerns, Mac reached an all-time high of $8.2 billion in the June quarter, up 16 percent from the previous year. The very positive customer response to our new Macs, powered by the M1 chip, which we most recently delivered to our newly redesigned iMac, has fueled this exceptional level of sales success “Apple’s CFO, Luca Maestri, stated.
“Paid subscriptions continue to rise at a rapid pace. We now have over 700 million paid subscribers across our platform’s services, up from over 150 million last year and roughly four times the number of paid subscriptions we had only four years ago “Maestri added.
Customers love the iPhone 12 because of its ultrafast 5G speeds, A14 Bionic chip, and Adobe vision camera, which has never been seen before in a phone, according to Cook.
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