Apple’s revenue growth leads to profits, but it betrays expectations

Despite strong iPhone sales, Apple’s revenue is below analysts’ expectations.
File: Cult of Mac

Apple’s revenue during the quarter from July to September was $ 83.4 billion, an increase of 29% over the previous year and a new record for this quarter. This led to a dramatic increase in net income. Revenue from iPhones rose significantly, while revenue from iPads, Macs, wearables and services rose by smaller percentages.

But analysts expected more. The consensus was that Apple’s total revenue would be nearly $ 85 billion. It is rare for a company not to exceed these expectations. Apple executives said in a conference call after the announcement that the restrictions on the delivery of components reduced the revenue by 6 billion dollars.

The iPhone is the driver of revenue growth in the fourth quarter of 2021

IPhone revenue for Apple’s September quarter reached $ 38.9 billion, up 47% from the same quarter in 2020. But this is not a comparison between Apple and Apple, as the iPhone 13 debuted this quarter, but COVID-19 pushed the launch of the iPhone 12 to the market. next quarter 2020.

IPhone Revenue in Q4 2021
Revenue from the iPhone has risen dramatically from year to year. But not compared to last quarter.
Chart: Ed Hardy / Cult of Mac

Given that other products also made profits, the company’s net revenue was $ 20.6 billion, up from $ 12.7 billion over the previous year. That is an increase of 62%.

Apple’s fiscal year also ends in September. And that’s exactly what gave Apple’s chief financial officer reason to brag. “Our record results for the September quarter rounded off an outstanding fiscal year of strong double-digit growth, during which we set new revenue records in all of our geographic segments and product categories, despite continuing uncertainty in the macro environment,” Luca Maestri said.

Investors expected good news. Shares of AAPL rose 2.5% on Thursday, close to the company’s record all-time high and pushed the company to an overall estimate above $ 2.5 trillion.

Apple has a great 2021

As Maestri said, Apple was on its way. During the previous quarter, Mac-maker recorded revenue growth of 36% compared to the same quarter last year. Profits have also risen.

And in the first three months of 2021, revenue increased 54% over the previous year.

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Naveen Kumar

Friendly communicator. Music maven. Explorer. Pop culture trailblazer. Social media practitioner.

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