The iPhone maker on Thursday reported revenue of $ 64.7 billion for the quarter, up 1% year-on-year and over $ 1 billion above analysts’ expectations. apple (AAPL) posted earnings of $ 0.73 per share, compared with analysts’ expected EPS of $ 0.70.
Despite better-than-expected results, Apple shares fell 4% in after-hours trading on Thursday.
Investors may be disappointed at the slowdown in sales growth q-o-q, as increased demand due to the pandemic contributed to 11% year-over-year sales growth.
They can also note that iPhone sales were down 20% in the September quarter from the previous year. That may happen at least in part because September quarter of this year doesn̵
7;t include new iPhone 12 sales,
Apple’s highly anticipated 5G smartphone launched earlier this month.
Last September quarterly sales included the first 10 days of iPhone 11 sales. But the launch of the iPhone 12 was delayed this year due to pandemic, so it was not sold until quarter ends.
In a call with analysts on Thursday afternoon, Apple CEO Tim Cook said that sales in the Chinese market in particular were affected by the lack of new iPhones in the September quarter. products in China, Apple’s key market, fell nearly 29% in the quarter.
However, Apple notes that international sales contributed 59% of the quarter’s sales.
The pandemic still seems to benefit other areas of Apple’s business. Revenue from its services segment grew more than 16% year-on-year, to $ 14.5 billion, and revenue from Mac increased 29% to $ 9 billion – both record highs, the company said. know.
Apple CFO Luca Maestri said: “Our excellent quarterly operating results for September end a remarkable fiscal year where we set new all-time records for sales, earnings per share and free cash flows, despite the extremely volatile and challenging macro environment “the report.
The company on Thursday also announced a cash dividend of $ 0.205 per share, which will be paid out Nov. 12 to anyone holding shares since Nov. 9.