Newsbytes
  • India
  • Business
  • World
  • Politics
  • Sports
  • Technology
  • Entertainment
  • Auto
  • Lifestyle
  • Inspirational
  • Career
  • Bengaluru
  • Delhi
  • Mumbai
  • Videos
  • Visual Stories
  • Reviews
  • Phone Reviews
  • Fitness Bands Reviews
  • Speakers Reviews
  • Find Cricket Statistics
Hindi
More
In the news
Twitter
Zomato
Reliance Jio
Sensex
National Herald
Meta
Newsbytes
Hindi
Newsbytes
User Placeholder

Hi,

Logout


India
Business
World
Politics
Sports
Technology
Entertainment
Auto
Lifestyle
Inspirational
Career
Bengaluru
Delhi
Mumbai
Videos
Visual Stories
Reviews
Phone Reviews
Fitness Bands Reviews
Speakers Reviews
Find Cricket Statistics

More Links
  • Videos

Download Android App

Follow us on
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
 
Home / News / Business News / Apple's Q3 performance: Check out the mind-boggling numbers
Business

Apple's Q3 performance: Check out the mind-boggling numbers

Apple's Q3 performance: Check out the mind-boggling numbers
Written by Shiladitya Ray
Aug 01, 2018, 02:37 pm 3 min read
Apple's Q3 performance: Check out the mind-boggling numbers

In a volatile market which saw Facebook and Twitter lose 20% of their value, Apple has, rather unsurprisingly, reported strong results for its third quarter, ended June 30. Apple's performance in Q3 2018 was in line with analysts' projections, and the company saw its shares rise by 4% after the announcement. Yet, Apple's strong performance obfuscates a subtle shift in its strategy. Here's more.

Q3 performance
Details about Apple's Q3 performance

Apple's revenue for Q3 touched $53.3bn, up 17% compared to the same period last year, and exceeding analysts' projections of $52.34bn. The tech giant's earnings per share (EPS) also exceeded expectations with EPS amounting to $2.34, as against projections of $2.18. Apple's net income stood at $11.5bn, and operating cash flow stood at $14.5bn. Interestingly, international sales accounted for 60% of the quarter's revenues.

Quote
Tim Cook is "thrilled" with Apple's Q3 performance

"We're thrilled to report Apple's best June quarter ever, and our fourth consecutive quarter of double-digit revenue growth," said Apple CEO Tim Cook.

Q4 projections
Apple projects a strong Q4 performance as well

On the back of its strong Q3 performance, Apple also projected a strong fourth quarter performance (Apple's fiscal year ends in September). The tech giant predicted revenues in the range of $60-62bn for Q4, a gross margin of 38-38.5%, and operating expenses between $7.95-8.05bn. Notably, Apple's Q4 revenue projections exceed Wall Street estimates of $59.47bn.

iPhone sales
Compared to Apple's golden days, iPhone sales have flatlined

However, unlike Apple's golden days when massive iPhone sales drove the company's rapid growth and eye-popping profits, iPhone sales have flatlined. Despite investors expecting a surge in sales driven by the iPhone X, Apple, through the first nine months of fiscal 2018, sold only 0.4% more iPhones than it did in the same period last year. Meanwhile, other Apple products are growing in prominence.

Data
Revenue from iPhone sales saw sharp decline from Q2

Although iPhone sales comprised around 56% Apple's total revenues for Q3 2018, a quarter-by-quarter comparison shows that Apple's iPhone revenues declined from $38bn in Q2 to $29.9bn in Q3. However, the $724 average selling price (ASP) of iPhones was $118.50 higher than last year.

Other products
How Apple's other products fared in comparison to iPhones

In comparison to iPhone sales revenues, Apple's software and services business contributed $9.55bn to Apple's Q3 revenues, up from $7.2bn in the same period last year. This segment also beat Wall Street's projected $9.21bn contribution. Meanwhile, revenue from Apple's "Other Products", that includes Apple TVs, Apple Watches, AirPods, HomePods, Beats devices etc. rose from $2.7bn in Q3 2017 to $3.7bn in Q3 2018.

New normal?
Seems like Apple has adopted a new growth strategy

Notably, Apple's strengthening of its software/services business, and increases in the sales of its "Other Products" is increasingly contributing to the company's revenues. With Apple introducing a new category of products almost every year, investors are keeping a close eye on the company as it's new normal is increasingly being characterized by the regular introduction of new products to help maintain sales growth.

Share this timeline
Facebook
Whatsapp
Twitter
Linkedin
Shiladitya Ray
Shiladitya Ray
Mail
Budding social scientist with a keen interest in social studies of science and the sociology of knowledge. Cinephile. Liverpudlian. Metalhead.
Latest
iPhone
Facebook
Apple
Tim Cook
iPhone X
Latest
Examining IMDb ratings, performances of Aamir Khan's last 5 films
Examining IMDb ratings, performances of Aamir Khan's last 5 films Entertainment
2023 Toyota Yaris Ativ sedan goes official with sporty looks
2023 Toyota Yaris Ativ sedan goes official with sporty looks Auto
OnePlus Ace Pro goes official: Check features and price
OnePlus Ace Pro goes official: Check features and price Technology
Virat Kohli nears his 100th T20I appearance, eyes these records
Virat Kohli nears his 100th T20I appearance, eyes these records Sports
Karachi: Security guard kicks pregnant woman; incident captured on CCTV
Karachi: Security guard kicks pregnant woman; incident captured on CCTV World
iPhone
Apple records $83bn revenue in Q3; doubles revenue in India
Apple records $83bn revenue in Q3; doubles revenue in India Business
Apple iOS 16 public beta released: Top features to try
Apple iOS 16 public beta released: Top features to try Technology
What is Apple's 'Lockdown Mode' and how does it work?
What is Apple's 'Lockdown Mode' and how does it work? Technology
ClearBuds' real-time noise-suppression technology outclasses Apple AirPods Pro
ClearBuds' real-time noise-suppression technology outclasses Apple AirPods Pro Technology
WhatsApp enables data transfer from Android to iOS: Full guide
WhatsApp enables data transfer from Android to iOS: Full guide Technology
More News
Facebook
How to redeem Garena Free Fire MAX's August 9 codes?
How to redeem Garena Free Fire MAX's August 9 codes? Technology
Vladimir Putin's statue in NYC shows him playing war games
Vladimir Putin's statue in NYC shows him playing war games World
Garena Free Fire MAX: How to redeem August 8 codes?
Garena Free Fire MAX: How to redeem August 8 codes? Technology
Garena Free Fire MAX's August 7 codes: How to redeem?
Garena Free Fire MAX's August 7 codes: How to redeem? Technology
Garena Free Fire MAX: How to redeem August 6 codes?
Garena Free Fire MAX: How to redeem August 6 codes? Technology
More News
Apple
Apple to ship iPhone 14 from India and China simultaneously
Apple to ship iPhone 14 from India and China simultaneously Business
#DealOfTheDay: Get Apple AirPods Max at Rs. 54,900 via Flipkart
#DealOfTheDay: Get Apple AirPods Max at Rs. 54,900 via Flipkart Technology
Indian government warns Apple Watch users of 'high severity' vulnerabilities
Indian government warns Apple Watch users of 'high severity' vulnerabilities Technology
#DealOfTheDay: Apple iPhone 12 available with Rs. 13,900 off
#DealOfTheDay: Apple iPhone 12 available with Rs. 13,900 off Technology
Hackers to smoke out Aadhaar bugs, detect security loopholes
Hackers to smoke out Aadhaar bugs, detect security loopholes India
More News
Tim Cook
'Don't say gay' bill deeply concerning: Apple CEO Tim Cook
'Don't say gay' bill deeply concerning: Apple CEO Tim Cook Business
What to expect from Apple's 'Unleashed' event on October 18?
What to expect from Apple's 'Unleashed' event on October 18? Technology
Apple seeks stay on injunction issued in lawsuit against Epic
Apple seeks stay on injunction issued in lawsuit against Epic Technology
Apple's recent workplace mutiny may have changed its culture forever
Apple's recent workplace mutiny may have changed its culture forever Business
Epic v/s Apple: Cook asked why gamers paying for bankers
Epic v/s Apple: Cook asked why gamers paying for bankers Business
More News
iPhone X
World's only iPhone with USB Type-C port sold for $86,000
World's only iPhone with USB Type-C port sold for $86,000 Technology
iPhone SE Plus' design and specifications leaked
iPhone SE Plus' design and specifications leaked Technology
#DealOfTheDay: iPhone Xr is available with Rs. 8,900 discount
#DealOfTheDay: iPhone Xr is available with Rs. 8,900 discount Business
Flipkart Big Billion Days: Top-deals on Apple and Samsung smartphones
Flipkart Big Billion Days: Top-deals on Apple and Samsung smartphones Business
Apple's iPhone 11, Xr, SE (2020) have become remarkably cheaper
Apple's iPhone 11, Xr, SE (2020) have become remarkably cheaper Technology
More News
Next News Article
Next News Article

Love Business news?

Subscribe to stay updated.

Business Thumbnail
India News Business News World News Politics News Sports News Technology News Entertainment News Auto News Lifestyle News Inspirational News
Career News Bengaluru News Delhi News Mumbai News Mukesh Ambani Indian Premier League (IPL) Karnataka Samsung Xiaomi West Bengal
Bihar Virat Kohli Rohit Sharma Haryana Narendra Modi Arvind Kejriwal Tamil Nadu Gujarat Yogi Adityanath YouTube
Instagram Hollywood News Uttar Pradesh Kerala Netflix Bollywood News Mamata Banerjee Maruti Suzuki Rahul Gandhi Elon Musk
Shah Rukh Khan Chelsea FC OPPO Akhilesh Yadav Indian Cricket Team Apple Manchester United Salman Khan Cryptocurrency OnePlus
Amitabh Bachchan ICC Women's World Cup Vivo India vs Sri Lanka
About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive IPL 2022 Schedule IPL 2022 Points Table Find Cricket Statistics
Follow us on
Facebook Twitter Linkedin Youtube
All rights reserved © NewsBytes 2022