US panel to now grill Bezos, Cook, Zuckerberg, Pichai
Apple CEO Tim Cook has said that strong iPhone SE launch, continued economic stimulus and some benefit from shelter in place restrictions lifting around the world saw iPhone revenue grow 2 per cent to $26.4 billion in the June quarter.
The active installed base of iPhones again reached an all-time high as a result of the loyalty of Apple customer base and strength of its ecosystem.
In April, Apple expected year-over-year performance to worsen but saw better-than-expected demand in May and June.
“We expected iPad and Mac growth to accelerate and we saw very strong double-digit growth for these devices this quarter. This remarkable performance came in spite of supply constraints on both products,” Coold told the analysts during the earnings call on Thursday.
Cook said that the company is working hard to get more iPads and Macs into customers’ hands as quickly as possible.
Wearables growth decelerated but still grew by strong double-digits and set a revenue record for a non-holiday quarter.
Apple Services vertical (App Store, Apple Music, video, TV+ and iCloud) generated a June quarter record of $13.2 billion, up 15 per cent year-over-year.
“We had strong performance in our digital services with all-time revenue records in the App Store, Apple Music, video and cloud services as well as elevated engagement on iMessage, Siri and FaceTime,” informed Cook.
A new study by independent economists at the Analysis Group found that the App Store facilitated more than 0.5 trillion in commerce globally in 2019 alone.