Apple has once again beaten analysts’ forecasts with results for its third fiscal quarter (second calendar, from April to June) in which digital revenue from the sale of Services played a prominent role and in which the company announces that has passed the milestone of
“We are pleased to report that we had an all-time Services revenue record for the June quarter, fueled by more than 1 billion paid subscriptions,” Apple CEO Tim Cook said in a statement accompanying the results. The technology’s shares reacted with falls of 1.2%, to $189, in the after-hours market, after recording a decrease of 0.7% in the regular session.
Apple’s net profit 2.2% year-on-year, up to 19,881 million dollars, in the April-June quarter, and increased a decrease in its revenues of 1%, up to 81,797 million
The net profit of the technology in the period grew by 2.2%, up to 19,881 million dollars. In the April-June quarter, Apple increased a year-on-year decline in revenue of 1% to $81.797 billion, which seals the third consecutive quarter in declining mode. Of course, the fall was less than expected by analysts due to the good moment of sales in Services, which grew by 8%, to 21,213 million. On the other hand, billing for devices (Products) decreased by 4.3%, up to 60,584 million dollars.
Despite the drop in iPhone sales (-2.4%, up to 39,669 million), Cook wanted to downplay the company’s main concern right now: “We saw continued strength in emerging markets thanks to solid iPhone sales,” said the CEO before the conference call with analysts.
However, the decline was clear in its three flagship product categories. Mac sales were 7.4% lower than the same period in 2022, up to 6,840 million dollars, while those of iPad plummeted 19%, up to 5,791 million. The Wearables, Home and Accessories subsidiary increased its sales by 2.4%, up to 8,284 million, surpassing both iPads and Macs.
10,000 million deposits in Apple Bank
On the other hand, Apple advanced hours before its results the success of the launch of the first banking savings product. The technology said that its remunerated account in alliance with Marcus (Goldman Sachs) has overcome the barrier of 10,000 million dollars in deposit in only 3 months of life.
Launched in April, the 4.15% Apple Savings account is only available to users of devices with iOS 16.4.1 or higher, it is limited to the US and Goldman Sachs acts as a partner in this product that rewards Apple cash balances . For all intents and purposes it works as money on deposit, with no redemption restrictions and a limit of $250,000 per user.
