Apple on Thursday unveiled better-than-expected results for the April-June period, with sales still strong for its flagship product, the iPhone.
The computer giant certainly saw its net profit fall by 11% to $19.4 billion. But the latter came out above analysts’ expectations, as did turnover (83 billion, up 2%). The title of Apple rose, in stride, more than 3% in electronic trading on Wall Street.
Apple sold $40.7 billion worth of smartphones in the third quarter of its lagged fiscal year (April to June), which is slightly more than the same period last year. Some analysts feared, in view of the economic slowdown, that demand for this rather expensive device would weaken.
Shortage and COVID
Apple’s services, which include the App Store and iCloud, also maintained solid growth (12%). Sales of Mac computers, on the other hand, fell by 10%, as did those of iPad tablets (-2%) and connected objects and clothing (-8%).
Revenue growth, however, is slowing compared to previous quarters, and is the lowest since the quarter ended in September 2020. The group indicated in April that the disruption caused by the resurgence of coronavirus cases in China and the shortage of silicon, necessary for the manufacture of chips, were to deprive it of 4 to 8 billion dollars in turnover.
These quarterly results “continue to demonstrate our ability to effectively manage our business despite a challenging environment for our business,” Chief Financial Officer Luca Maestri said in a statement.
By geography, Apple saw revenue grow in North America and Europe, but decline in Greater China (which includes Hong Kong and Taiwan) and Japan.