Apple revenue is interesting in the sense that the company can generate tens of billions in revenue, sell millions of new iPhones, and are still disappointing analysts. In fact, investors on Wall Street are not just looking for impressive numbers, they're looking for sales and earnings that exceed expectations.
That is, Apple released its earnings report for the last quarter of June today, with revenues of $ 53.2 billion and [2.359 million] and EPS of $ 2.34 . However, analysts expect Apple's revenue for the quarter to fall somewhere in the $ 52 billion range and the EPS to fall somewhere at 2.17. By comparison, Apple generated $ 45.4 billion in revenue in the same quarter a year ago and earnings per share of $ 1
. Net income for the quarter was $ 11.5 billion , a nice jump from the $ 8.7 billion earned during the June quarter of 2017.
As usual, the largest measure is iPhone sales, and as the June quarter came to an end, Apple recorded a sales of 41.3 million. In the same quarter last year, Apple released iPhone sales of 41.02 million units. It is impressive that Apple was able to increase sales even with somewhat stagnant iPhone sales.
"We are excited to announce Apple's best June quarter and achieve double-digit sales growth for the fourth consecutive quarter," said Apple CEO Tim Cook in a press release. "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."
Not surprisingly, Apple's service revenue continued to impress. During the three-month quarter, Apple's offering – including Apple Music, the App Store, and iTunes – generated $ 9.5 billion in revenue, which was good enough for a 31-percent jump over the year.
As for other hardware sales, iPad and Mac sales checked in at 11.5 million and 3.7 million units, respectively. Year after year, Mac sales fell 13%, while iPad sales increased only 1%.
Apple's shares in post-trading increased by about 2.6%.