The report initially sent Apple shares up slightly in late trading, though the stock quickly gave up gains. CEO and Tim Cook remarked the company’s “teams built on a period of unmatched innovation by sharing powerful new products with our users, at a time when using technology to connect people everywhere has never been more important.” Added Cook, “We’re continuing to press forward in our work to infuse everything we make with the values that define us — by inspiring a new generation of developers to learn to code, moving closer to our 2030 environment goal, and engaging in the urgent work of building a more equitable future.” Revenue in the three months ended in June rose 36%, year over year, to $81.4 billion, yielding a net profit of $1.30 a share. Analysts had been modeling $73.33 billion and $1.01 per share. A companion PDF document gives full financial data for the quarter. Within the categories of revenue,
Apple’s sales of iPhone rose by 50%, year over year, to $39.6 billion.Macintosh sales rose by 16%, year over year, to $8.24 billion.Sales of iPad rose by 12%, year over year, to $7.37 billion.Sales of accessories, products for the home, and wearables rose by 36% to $8.78 billion.And sales of services rose by 33% to $17.5 billion. Services made up 21.5% of total company revenue.
Apple’s CFO, Luca Maestri, commented that “Our record June quarter operating performance included new revenue records in each of our geographic segments, double-digit growth in each of our product categories, and a new all-time high for our installed base of active devices.” Added Maestri, “We generated $21 billion of operating cash flow, returned nearly $29 billion to our shareholders during the quarter, and continued to make significant investments across our business to support our long-term growth plans.” For the current quarter, the Street is expecting $81.79 billion and a $1.14 per share. Apple will hold a conference call with analysts at 5 pm, eastern time, this evening, and you can catch it on the company’s investor relations Web site. Update: During the call, Maestri told analysts that the company is expecting double-digit growth, but less than the 36% rate of last quarter, with global supply-chain constraints impacting sales, especially for iPhone. Said Maestri: