TechBookyBusiness
No Result
View All Result
Wednesday, July 6, 2022
  • Login
  • Home
  • TechBooky
  • Africa
  • TV
  • Startup
  • Earnings
  • Crypto Price
  • Submit Article
  • Contact Us
  • About Us
Subscribe
TechBooky Business
No Result
View All Result
Home Earnings

Apple Inc. Beats Analysts Estimates With Sales Of 5G iPhones, Services, Others

Ibhadojemu Lucky Emmanuel by Ibhadojemu Lucky Emmanuel
July 27, 2021
in Earnings
Share on FacebookShare on Twitter

On Tuesday tech giant Apple Inc. reported impressive quarterly sales and profits that surpassed the expectations of analysts. The surge in sales and profits is a result of increased sales of the company’s 5G iPhones, and the fact that more consumers signed up for its subscription services.

The company reported total revenue of $81.43 billion – a figure that surpassed analysts’ expectation of $73.30 billion by 36.4 percent, according to IBES data from Refinitiv. Earnings for the tech giant was expected to be $1.01 per share but Apple reported earnings of $1.30 per share.

According to Apple’s CEO Tim Cook, Apple had its strongest sales growth from China. He said that customers in China are increasingly purchasing accessories, especially the Apple Watch, to go with their iPhones. In the fiscal third quarter ended June 26th, sales in China grew 58 percent to $14.76 billion. “It wasn’t just iPhone. We set a new quarterly record for Mac, for wearables, home, and accessories, and for services. It was our strongest geography”, Tim Cook said talking about the growth the company witnessed in China.

The company’s impressive results come in the heat of a global chip shortage, and somehow it seems to not have been affected.

Investors who were once worried that the company was over-dependent on the sale of its iPhones have taken the company’s valuation to almost $2.5 trillion. “Their main challenge now is keeping up the success to justify its +$2 trillion valuation”, Jesse Cohen, a senior analyst at Investing.com said.

The desire to own 5G devices seems to be the drive for the buying cycle which Apple (and even other phone makers) is experiencing. According to Apple, iPhone sales were $39.57 billion, which is up almost 50 percent from the previous year and beat analysts’ expectations of $34 billion.

According to Tim Cook, the iPhone 12 Pro and 12 Pro Max were strong sellers and helped push gross margins to 43.3 percent, beating estimates of 41.9 percent. Apple reported Services revenue of $17.49 billion that beat expectations of $16.33 billion. Apple now has 700 million subscribers across its various platforms, Tim Cook said. This figure is up from 660 million in the last quarter.

For sales of iPads and Macs, Apple reported $7.37 billion and $8.24 billion respectively. Analysts expected the figures to be $7.15 billion and $8.07 billion respectively.

Apple has also been at the center of some regulatory probes. A regulatory probe from the  European Consumer Organization (BEUC) lobby group accused Apple of distorting competition in the music streaming market. The company’s practice of charging commissions of 15% to 30% to developers who sell in its App Store and requiring them to use Apple’s payment system could face scrutiny from regulators in the United States and Europe. The company also expects a ruling is in the coming months in an antitrust lawsuit filed against it by Epic Games.

Xiaomi Corp. also Overtook Apple Inc. in the second quarter of this year as the world’s second-largest smartphone vendor.

Total
0
Shares
Share 1
Tweet 0
Pin it 0
Share 0

Related Posts:

  • Apple Reports Impressive Quarterly Results, Tim Cook Says The Covid-related China Lockdowns Didn’t Affect The Company In The Quarter
    Apple Reports Impressive Quarterly Results, Tim Cook Says…
  • Microsoft Beats Fiscal Third Quarter Quarter Estimates, Shares Soar 6 Percent In Extended Trading
    Microsoft Beats Fiscal Third Quarter Quarter Estimates,…
  • Apple Had Yet Another Blowout Quarter, Approves $90b Share Buybacks
    Apple Had Yet Another Blowout Quarter, Approves $90b Share…
  • Apple Reports Its Largest Single Quarter In Terms Of Revenue, Beats Analysts Estimates In Nearly All Categories
    Apple Reports Its Largest Single Quarter In Terms Of…
  • Qualcomm Shares Soar After Reporting Better-than-expected Fiscal Q4 Earnings
    Qualcomm Shares Soar After Reporting Better-than-expected…
  • Microsoft Corp Sees Its Most Profitable Quarter On Steady Cloud Growth
    Microsoft Corp Sees Its Most Profitable Quarter On Steady…
  • Google’s Parent Company Alphabet Reports Increased Revenue And Profit Boosted By Ads
    Google’s Parent Company Alphabet Reports Increased Revenue…
  • Snap Beats Analysts’ Estimates On Earnings, Revenue And User Growth, Reports First Profitable Quarter As A Public Company
    Snap Beats Analysts’ Estimates On Earnings, Revenue And User…
Tags: appleearningsearnings seasonipadiphonemacquarterly earnings
Previous Post

The CBN Reiterates Its Stance On Cryptocurrency As it Sets To Launch Its Digital Currency In October

Next Post

Google’s Parent Company Alphabet Reports Increased Revenue And Profit Boosted By Ads

Next Post
Google’s Parent Company Alphabet Reports Increased Revenue And Profit Boosted By Ads

Google’s Parent Company Alphabet Reports Increased Revenue And Profit Boosted By Ads

No Result
View All Result

Get top tech business news in your inbox

subscription from
Loading

Crypto Price List

  • USD
  • EUR
  • GPB
  • AUD
  • JPY
  • TadpoleTadpole(TAD)
    $7.32-1.74%
  • SEENSEEN(SEEN)
    $2.05-2.27%
  • EvedoEvedo(EVED)
    $0.082301-0.80%
  • MarginswapMarginswap(MFI)
    $0.184213-2.11%
  • SakeTokenSakeToken(SAKE)
    $0.0127135.28%
  • WTF TokenWTF Token(WTF)
    $0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)
    $0.005461-5.83%
  • RobotinaRobotina(ROX)
    $0.00266138.50%
  • CageCage(C4G3)
    $0.005010-3.67%
  • YAM v2YAM v2(YAMV2)
    $4.70-1.41%

Recent Posts

  • Nigeria’s AutoChek Makes A New Acquisition In Francophone-focused Classified Ad Marketplace CoinAfrique
  • South African Crypto-focused Company H20 Water Securities Secures $150 Million Funding Via The Sale Of Its H20N Token
  • Financial Inclusion In Nigeria Grew To 45 Percent In 2021 – World Bank
  • Meta Is Shutting Its Novi Digital Wallet By September 1st
  • Crypto Is The Answer To Financial Inclusion, Central African Republic’s President Says Amid Huge Aversion For Its Adoption Of Bitcoin

Categories

  • Acquisition
  • Acquisition & Merger
  • App
  • Banking
  • Capital
  • Cryptocurrency
  • Earnings
  • Ecommerce
  • Economy
  • Enterprise
  • Event
  • Funding
  • Gadget
  • Government
  • internet
  • Investment
  • Market
  • Merger
  • Money
  • Partnership
  • Personnel
  • Service
  • Social Media
  • Startup
  • Stocks
  • telecom
  • Venture Capital

Get top tech business news in your inbox

subscription from
Loading

Popular Tags

Acquisition africa amazon apple bitcoin cbn china coinbase company crypto cryptocurrency e-commerce earnings earnings season elon musk facebook fintech Funding gadget google government india internet Investment ipo kenya microsoft money netflix nigeria payment payments Q1 revenue russia service shares social media Startup Stock tech tesla twitter Ukraine whatsapp

Calendar

July 2022
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031
« Jun    

Categories

  • Acquisition
  • Acquisition & Merger
  • App
  • Banking
  • Capital
  • Cryptocurrency
  • Earnings
  • Ecommerce
  • Economy
  • Enterprise
  • Event
  • Funding
  • Gadget
  • Government
  • internet
  • Investment
  • Market
  • Merger
  • Money
  • Partnership
  • Personnel
  • Service
  • Social Media
  • Startup
  • Stocks
  • telecom
  • Venture Capital

Recent News

  • Nigeria’s AutoChek Makes A New Acquisition In Francophone-focused Classified Ad Marketplace CoinAfrique
  • South African Crypto-focused Company H20 Water Securities Secures $150 Million Funding Via The Sale Of Its H20N Token
  • Financial Inclusion In Nigeria Grew To 45 Percent In 2021 – World Bank
  • Meta Is Shutting Its Novi Digital Wallet By September 1st
  • Crypto Is The Answer To Financial Inclusion, Central African Republic’s President Says Amid Huge Aversion For Its Adoption Of Bitcoin
  • Popular Bitcoin Family Reveals They’ve Had Bitcoin Losses Of Up To $1 Million This Year

© 2021 Techbooky Business - Design by Techbookyelite.

No Result
View All Result
  • Home
  • TechBooky
  • Africa
  • TV
  • Startup
  • Earnings
  • Crypto Price
  • Submit Article
  • Contact Us
  • About Us

© 2021 Techbooky Business - Design by Techbookyelite.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)$20,144.003.61%
  • ethereumEthereum(ETH)$1,136.433.22%
  • tetherTether(USDT)$1.00-0.04%
  • usd-coinUSD Coin(USDC)$1.00-0.08%
  • binancecoinBNB(BNB)$237.375.66%
  • Binance USDBinance USD(BUSD)$1.000.05%
  • rippleXRP(XRP)$0.3227972.09%
  • cardanoCardano(ADA)$0.4567961.54%
  • SolanaSolana(SOL)$35.857.03%
  • dogecoinDogecoin(DOGE)$0.0673992.40%
  • polkadotPolkadot(DOT)$6.902.94%
  • Shiba InuShiba Inu(SHIB)$0.0000102.77%
  • AvalancheAvalanche(AVAX)$18.248.39%
  • matic-networkPolygon(MATIC)$0.523.89%
  • Terra Luna ClassicTerra Luna Classic(LUNC)$0.000071-5.36%
Posting....