Total revenue hit US$81.43 billion, which was above analyst expectations of US$73.30 billion
“It wasn’t just iPhone. We set a new quarterly record for Mac, for wearables, home and accessories, and for services” in China, Cook told Reuters in an interview. “It was our strongest geography.”Article contentThe results come as investors who once worried that Apple was too dependent on sales of its signature computing device, the iPhone, have pushed the company’s value to nearly US$2.5 trillion, more than doubling in about three years.
Apple launched its iPhone 12 models, all of which can connect to faster 5G wireless networks thanks to chips from Qualcomm Inc., later than usual last year. Because that delay pushed some iPhone purchases that would normally happen in the company’s fiscal first quarter into the second, executives had warned investors to expect a steeper drop in iPhone sales than usual in the third quarter as consumers start holding back on purchases in anticipation of a new generation of phones this fall.
Cook told Reuters that Apple’s iPhone 12 Pro and 12 Pro Max, the premium tier of the device, were strong sellers. That helped pushed gross margins to 43.3 per cent, above estimates of 41.9 per cent, according to Refinitiv.
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