Apple posted some sales and revenue figures yesterday and I thought I’d break it down for you. It was actually a quarterly report.
- 47.5 million iPhones in the quarter ending 27th June and this is up 35% from a year ago
- Mac sales in the same quarter was put at 4.8 million and again this is up 9%
- Revenue was put at $49.6b/ 8tr Naira and that’s up 33%
- Profits put at $10.7b/ 1tr Naira and that’s up 38%
- Apple now has cash reserves of over $200b/39.7tr Naira
- Apple watch sales is projected to increase with time. We’ll see this when their fourth quarter report comes in.
Little wonder Apple CEO Tim Cook called it an “amazing quarter”. It is indeed.
Carl Icahn who is a shareholder in Apple called for Apple’s $190b last May but now it’s over about $203b.
You would think market experts and analysts would welcome this. At the time of reporting this, Apple shares were trading lower.
How on earth could this be?
This is because the figures fall below the forecasts. This basically means the sales weren’t what investors expected. They expected something higher. Another point they made was that the results Apple posted showed that revenue was heavily dependent on iPhone sales.
That said Apple is forecasting a revenue of at least $49b/9.7tr Naira; a figure they expect to eventually rise to $51b/10.1tr Naira in the fourth quarter.
But again Apple acquired the Beats brand, the company also has other products. Revenue from iPods and Beats headphones was put at $2.6b/ 517b Naira
Perhaps the disappointing result of the day was the iPad, sales are down about 18% having sold about 10 million units.
How’s the Apple Watch doing though?
Reports put the number of Apple watch sales at 3 million. This is quite good considering projections that it was going to sell so much in its first year. Tim Cook said sales have continued to increase month after month.
There you go. I believe that’s all you need to know about Apple’s finances as of today.