Published: Thu, August 01, 2019
Tech | By Constance Martin

Apple Q3 2019 Results - $53.8 Billion Revenue

Apple Q3 2019 Results - $53.8 Billion Revenue

While a more diverse mix of product revenue is good for Apple, for the short term it still needs a thriving iPhone ecosystem to help cement growth for the brand.

Apple reported that sales in the period that ended June 29 gained 1% from a year earlier, to $53.8 billion, beating analysts' estimates of $53.4 billion.

Their share price more than 4% in after-hours trading. We continue to see phenomenal demand for AirPods. "And we did that on iPhone".

The $1B deal allowed Apple to absorb 2,200 Intel employees, and also gave it access to Intel's intellectual property related to its 5G modem, equipment and leases.

Although it is partnering with Goldman Sachs, Apple says the bank will "never share or sell your data to third parties for marketing or advertising". The company has set a goal of 500 million by 2020.

Following up on the success of Apple Pay, Apple previous year announced plans to launch a new credit card that it said would be accepted anywhere Apple Pay is accepted. I think you could argue that moving into the future, the services that Apple builds on top of its devices are becoming more and more important as a driver of growth.

According to Counterpoint, despite the global decline, iPhone sales trends are improving. In the latest quarter, sales in the region dipped 4.1 per cent, though mainland China itself saw a rise in sales riding on a government stimulus and a price cut, among other factors.

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"Our trade-in and financing programs are doing extremely well in China", Cook told Reuters. "Because of the active installed base is growing in China, our services business is doing very well, growing double digits".

And a recently opened U.S. Justice Department investigation is expected to look into whether Apple unfairly favors its own services and gouges others through its app store, raising the specter of changes that could further depress its revenue.

The Justice Department formally announced the review last week but did not name any companies that would be scrutinized.

While Apple Music and iCloud were not discussed at length during the call with investors, Apple executives boasted of a 50% increase in monthly users of the Apple TV app YOY.

Apple's wearables category now generates more revenue than its iPad business.

"We were also very happy with double-digit revenue growth from Mac, fueled by a strong performance of MacBook Air and MacBook Pro", said the Apple CEO, adding that Mac pro production will remain in the USA contrary to media reports that Apple is considering shifting Mac Pro production to China.

Cupertino-based tech giant Apple is said to be including 3D sensing rear camera setups with time-of-flight (ToF) camera lenses in two of its 2020 iPhones, according to a report by Mac Rumours that cites Apple tipster and former KGI Securities analyst Ming Chi-Kuo.

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