Apple Says Record Profits for Services and Mac
Apple introduced the financial performance for the last quarter. The company's revenue for three months amounted to $ 64.7 billion. Compared to the same period last year, it grew by 1%. Record sales were recorded in the service and Mac categories.
High rates were recorded in the sales of iPad ($ 6.8 billion) and Mac computers ($ 9 billion). Growth in these segments was 46% and 29%, respectively.
The delayed release of the iPhone 12 has impacted revenue in the smartphone category. If in 2019 iPhone sales reached 52% of all Apple's revenue, then in this quarter this figure decreased to 41%. For the year, revenue decreased by 21%, to $ 26.45 billion.
In the field of wearable devices and accessories, Apple's revenue increased by 21%, to $ 7.9 billion.
Services brought the company 16% more revenue. The number of subscribers to Apple's paid services has grown from 550 to 585 million people, and by the end of the year is projected at 600 million people.
International sales accounted for 59% of quarterly revenue. In China, Apple's revenue fell by 29% as expected. In the US, a slight increase was recorded (4.7%). The company showed good performance in Europe (13%), Japan, and the Asia-Pacific region (13%).
Net earnings per share for the quarter were $ 0.73. Shareholders returned about $ 22 billion.
When presenting the report, the head of the company Tim Cook emphasized that now Apple expects an increase in sales in the segment of smartphones, as a new line was released. He drew attention to the double-digit growth in demand for older iPhone models.
However, following the results of the presentation, the company's shares fell by 4%. Investors are confused by the decline in smartphone revenue and Apple's lack of clear forecasts for the new quarter. The company acknowledges that supply problems with components for its devices persist due to the pandemic.