giant Apple, best known for its iPhones and computers, said newer lines
of business such as Apple Pay, the App Store and Apple Music helped to
drive growth in its third quarter.
Apple is expected to release new and updated iPhones next month.
Apple chief executive Tim Cook was tight-lipped when it came to details
on the new launch and said reports about the new phones may have caused
some people to "pause" their purchases of the existing phones.
But "while that affects us in the short-term, it probably bodes well",
Even with some people waiting for the new models, Apple said the number
of iPhones sold in the quarter increased a solid 2% year-on-year, driven
by strong demand in markets such as Latin America and the Middle East.
The growth lifted revenue from iPhones, which account for the bulk of
the company’s sales, by 3% to $24.8bn.
Apple also said the number of iPads sold climbed 28% year-on-year, while
revenues from the product increased 2%.
Revenue from other devices, such as the Apple Watch, Apple TV and Beats
products, jumped 23% year-on-year.
Mr Cook stressed the success of its services unit, which includes Apple
Pay, the App Store and Apple Music. The division had sales of nearly $7.3bn
during the three months to the end of June, a rise of 22% on the same
period last year.
But judging by Apple’s revenue forecasts for the rest of the year, it
seems this will not be the case. It means we can expect anticipation for
a big upgrade to the iPhone to step into overdrive, what with it being
the device’s 10th anniversary year.
In those 10 years, 1.2 billion iPhones have been sold, Mr Cook told
Apple relies on it heavily for its revenue, which some see as being a
weakness in the company - but this quarter has also provided good news
for investors when it comes to generating big profits in other areas.
And Apple’s services department - App Store and Apple Music, mostly -
had revenues of more than $7.2bn in this last quarter. That makes it, as
Apple was delighted to point out today, the size of a Fortune 100
company in its own right.