Apple unveiled fresh guidance as the company posted better-than-expected results for its fiscal third-quarter after markets closed on Tuesday, which were supported by double-digit growth in services.
The Cupertino, Calif,-based technology major generated net sales of $53.81 billion in the three months ended June 29, up 1% from the corresponding quarter of the prior year and ahead of the consensus estimate of analysts polled by Capital IQ for $53.42 billion.
Broken down by business category, iPhone sales declined to $25.99 billion from $29.47 billion a year earlier. But the decline was offset by growth in all of the company’s other categories, with services revenue up 12.7% to $11.46 billion. Sales of Macs rose by 10.3% to $5.80 billion and sales of iPads advanced by 8.4% to $5.02 billion. Revenue from wearables, home and accessories rose by 48.3% to $5.53 billion.
By region, the Americas was still by the far the biggest revenue generator, worth $25.06 billion, followed by Europe, worth $11.93 billion and greater China, worth $9.16 billion.
Diluted earnings per share declined by 7% to $2.18, but still comfortably beat the Street’s forecast for $2.10 per share.
“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, chief executive of Apple, said.
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