Apple sets new quarterly revenue record

Apple sets new quarterly revenue record

Company's active devices reach all-time high in every geographic segment, product category, CFO says

News Service AA

Apple set a new quarterly revenue record, the US-based global tech firm said in its financial results statement released Thursday.

Its revenue, or total net sales, rose to almost $83 billion for the three months ending June 25, which Apple refers to as the third quarter of a fiscal year.

This posted a 2% increase from $81.4 billion in the same period a year ago.

"This quarter’s record results speak to Apple’s constant efforts to innovate, to advance new possibilities, and to enrich the lives of our customers," CEO Tim Cook said in a statement.

CFO Luca Maestri said the company's installed base of active devices reached an all-time high in every geographic segment and product category.

Apple's net income, on the other hand, fell 10.6% to $19.4 billion, from $21.7 billion, during that period.

The company generated $40.6 billion from iPhone sales and $19.6 billion from services, both posting year-on-year increases.

However, its Mac sales at $7.4 billion, iPad sales at $7.2 billion and sales of wearables, home and accessories at almost $8.1 billion posted declines from the same period of last year.

With positive results, Apple's stock price was up 2.4% in pre-market on the Nasdaq at 8.19 a.m. EDT on Friday.


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