Apple has published its latest set of results and they show revenue growing to $45.1 billion for the three months. That combined with a prediction that it will bring in as much as $52 billion in the next quarter saw shares rise by up to 6% in after-hours trade to hit a record high.
Apple made a pre-tax profit of $11.3 billion in the three-months from April to the end of June, a solid rise on the previous year.
This year the iPhone is ten years old, but it’s not been performing so well in China, where sales this quarter were flat and total Chinese revenue for the company actually fall by 10%.
And Apple increasingly trails its arch rival Samsung in the smartphone market in terms of share right across the globe, which some analysts say is a problem for a company so reliant on handsets.
One way Apple has tried to decrease its reliance on iPhone sales is its growing range of services.
Those grew by 22% year on year in Q3, with the company raking in $7.3 billion from things like its App Store and Apple Pay now from outside Apple’s HQ in Silicon Valley.
Investors and Apple fans had been concerned that the new iPhone, which is due in September, could be delayed until next year because of production issues but judging by Apple’s revenue forecast for its next quarter, it expects the iPhone production to be right on track so you can expect anticipation for the new phone to go into overdrive in.
What will be the iPhone’s 10th-anniversary year? Other good news for Apple better resulted for its iPad range, which has grown for the first time in more than three years. The tablet, written off by many as a dying form factor, is stronger than ever and eight of the ten strongest are made by Apple.
Apple’s serviced apartment, things like the App Store and Apple Music, have revenues of $7.3 billion in this last quarter, making it the size of a fortune 100 company.
A blip in these results and it’s been a big blip for quite now for Apple is the company performance in China were in this quarter the revenue drops.
Chief executive Tim Cook told investors, he thinks Apple is in a trough in the region and he expects better performance in China soon.