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Apple Sets New Revenue Records Despite Difficulties

Despite the difficult situation, the computer group Apple managed to bring in brilliant business results. The company exceeded expectations and was able to report new records – even if things didn’t go quite as well in the most important area.

This is of course about the iPhone. Although Apple increased sales of its flagship product by 9.67 percent year-on-year to $42.63 billion, the target was $43.21 billion. In addition, the development of the services area, which is becoming increasingly important, was not as strong as expected.

However, this was offset by other business areas. The sale of Macs deserves a special mention here. While virtually the entire PC industry is currently struggling with sharply collapsing sales figures, Apple was able to increase its income from computer sales by 25.4 percent. At $11.51 billion, these were even well above the forecasts.

Strong New Year

Across the business as a whole, Apple grew its revenue by 8.1 percent year-on-year to $90.15 billion. Wall Street analysts only expected $88.9 billion here. As a result, net income climbed slightly from $20.55 billion to $20.72 billion.

“Our record results for the September quarter show that we are able to effectively meet our targets despite a difficult and volatile macroeconomic environment,” said CFO Luca Maestri. “This quarter caps another record year for Apple.” 

Apple boss Tim Cook even explained that with a weaker dollar exchange rate, which made products more expensive abroad, double-digit sales growth would probably have been achieved. With the current Christmas quarter, the group from Cupertino, California, is starting the new financial year, for which no official targets have been published.

Ron Harold

It has been a long time since I joined Research Snipers. Though I have been working as a part-time tech-news writer, it feels good to be part of the team. Besides that, I am building a finance-based blog, working as a freelance content writer/blogger, and a video editor.

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