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Apple Q3 2018 earnings: Solid iPhone sales results in $53 billion in revenue

Apple

Apple’s financial results for the third quarter of 2018 reveal that the company posted quarterly revenue of $53.3 billion USD ($68 billion CAD), an increase of 17 percent over the same period a year ago.

In terms of specific device sales, Apple says that 41.3 million iPhones, 11.5 million iPads and 3.7 million Macs were sold this quarter. Compared to the same period last year, iPhone and iPad sales are only up one percent, while Mac sales are down 13 percent.

Further, the Cupertino, California-based tech giant states that international sales accounted for 60 percent of the company’s quarterly revenue.

Apple also posted $9.55 billion USD ($12.43 billion CAD) in software and services revenue for the third quarter, surpassing estimates of $9.21 billion ($11.98 CAD) and resulting in a 37 percent increase year-over-year. In Q3 2017, Apple’s services earnings amounted to $7.2 billion.

The tech giant expects fourth-quarter revenue to fall somewhere between $60 billion ($78 billion CAD) and $62 billion ($80 billion).

“We’re thrilled to report Apple’s best June quarter ever, and our fourth consecutive quarter of double-digit revenue growth,” said Tim Cook, Apple’s CEO, in a statement sent to MobileSyrup. “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.”

Source: Apple 

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