iPhones have weak quarter, but wearables are doing great

As anticipated, Apple’s hardware numbers were a mixed bag during today’s fiscal Q3 earnings report. Apple continues to shift much of its resources to services and content, including a billion-dollar push into Apple TV+. But while iPhone number were down, things weren’t all bad on the device front.
Notably, wearables are up in a big way. The category hit $5.5 billion for the quarter, up from $3.7 billion, year-over-year. The boost came in no small part due to the arrival of new AirPods, featuring wireless charging functionality, in spite of the company DOAing its AirPower charging pad.
“The wearables category is doing extremely well.” said Tim Cook on today’s earnings call. “We stuck with it when others perhaps didn’t.”
Apple CFO Luca Maestri pointed out that the revenue of the wearables division alone would make for a Fortune 200 company.
Meanwhile, iPad revenue is up 8% year-over-year, Mac revenue is up 11% and the services category it’s been putting so much focus into is up 13%.
“This was our biggest June quarter ever — driven by all-time record revenue from Services, accelerating growth from Wearables, strong performance from iPad and Mac and significant improvement in iPhone trends,” Tim Cook said in a press release tied to earnings. “These results are promising across all our geographic segments, and we’re confident about what’s ahead. The balance of calendar 2019 will be an exciting period, with major launches on all of our platforms, new services and several new products.”

Apple’s revenue growth slows as iPhone sales dip 12% year-over-year
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