Apple’s revenue in the July-September period reached $83.4 billion, an increase of 29 percent year on year. The expectation was that the company’s revenue would be $84.7 billion.
Despite the fact that the revenue generated by Apple, one of the US technology giants, in the July-September period reached 83.4 billion dollars with an annual increase of 29 percent, it could not meet the market expectations.
Apple announced its balance sheet for the July-September period.
According to the statement made by Apple, the revenue of the company, which is considered as the fourth quarter in the quarterly balance sheet ending on September 25, increased by 29 percent compared to the same period of the previous year and reached 83.4 billion dollars. The Bloomberg survey had expected revenue of $84.7 billion.
Tim Cook, ”We Performed Very Strongly”
The company had revenue of $64.7 billion in the same period last year. The company’s net profit, which was $12.7 billion in the same period of last year, increased by 62.2 percent to $20.6 billion. The company’s earnings per share increased from $0.73 to $1.24 during this period.
During this period, Apple’s smartphone, tablet and computer sales increased. The amount of iPhone sales increased by 47 percent in the July-September period compared to the same period last year, reaching $ 38.9 billion. In the same period, iPad sales increased 21.4 percent to $8.3 billion, while Mac sales increased 1.6 percent to $9.2 billion.
“We performed very strongly despite larger-than-expected supply constraints ” said Tim Cook, Apple’s CEO.
Cook stated that the supply chain problems stemmed from the industry-wide chip issue and production disruptions caused by the Kovid-19 outbreak in Southeast Asia.