Apple on Thursday reported its revenue was a whopping $124.3 billion in the year-end holiday quarter, but sales growth fell shy of market expectations as the iPhone faces stiff competition, particularly in China. Apple logged $
AFP | San Francisco
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Apple on Thursday reported its revenue was a whopping $124.3 billion in the year-end holiday quarter, but sales growth fell shy of market expectations as the iPhone faces stiff competition, particularly in China.
Apple logged $36.3bn in profit in what chief executive Tim Cook called its "best quarter ever." Revenue growth was powered by Apple's service and digital content unit, with iPhone sales slipping in markets like mainland China where they tallied $18.5bn.
Overall iPhone sales in the quarter were $69.1bn, about a half-billion less than it took in for handsets in the same period a year earlier, according to an earnings release.
"Our record revenue and strong operating margins drove (earnings per share) to a new alltime record with double-digit growth," said Apple chief financial officer Kevan Parekh.
"We are also pleased that our installed base of active devices has reached a new all-time high across all products and geographic segments." In the quarter, Apple's services segment -- which includes Apple Music, iCloud, the App Store, and Apple TV+ -- reported revenue of $26.3bn, compared to $23.1bn in the same period a year earlier.
