Apple report
Apple's financial report showed strong growth compared to last year's difficult year, beating forecasts and reporting a 50% increase in iPhone sales. However, this growth rate will not continue due to chip shortages.
Apple (AAPL) reported its results for the fiscal third quarter ended 30 June on Tuesday after the close of trading.
Sales revenues in each of Apple's business segments rose more than 12% and quarterly earnings per share beat analysts' average expectations. However, management provided no official financial guidance for the sixth consecutive quarter, due to uncertainties surrounding the Covid-19 pandemic.
At a conference call for the report, Apple CEO Tim Cook said sales growth for the quarter could have been higher had it not been for the global shortage of semiconductors.
Apple's CFO Luca Maestri said the company expects revenue growth of less than 36 percent this quarter due to unfavorable currency exchange rates, less growth in services and supply constraints on iPhones and iPads.
Apple figures for the third quarter of fiscal 2021
Earnings per share doubled to $1.30 (from last year's figure), above analysts' average estimate of $1.01.
Quarterly profit after tax rose to $21.74 billion, up from $11.25 billion in the third quarter last year.
Apple's business profitability was a whopping 43.3% versus an estimated 41.9%.
Total quarterly revenues rose 36% to $81.41 billion.
Revenues in the Americas jumped nearly 33% year-on-year to $39.57 billion, while revenues in Europe jumped 33.7% to $18.9 billion. Sales in the Greater China region jumped the most, 58% to $14.76 billion, not surprising given the country's near-total isolation in this period a year ago.
Quarterly sales revenues:
- iPhones up 49.78% to $39.57bn,
- from the iPad up 12% to $7.37 billion,
- from Macs up 16% to $8.24 billion.
- from other products up 40% to $8.76 billion.
Services revenues were up 33% from last year to $17.48 billion.
Apple had strong cash flow of $21 billion at the end of June, returning nearly $29 billion to shareholders during the quarter through dividends and share buybacks.According to Maestri, Apple has repurchased nearly $450 billion worth of shares in recent years. Apple declared a dividend of $0.22 per share.
