“With revenue up 7 percent year-over-year, we’re happy to report our third consecutive quarter of accelerating growth and an all-time quarterly record for Services revenue,” said Tim Cook, Apple’s CEO. “We hosted an incredibly successful Worldwide Developers Conference in June, and we’re very excited about the advances in iOS, macOS, watchOS and tvOS coming this fall.”
Here are some details from the results and the call:
- International sales accounted for 61 percent of the quarter’s revenue. 75% of Apple Pay transactions take place outside of the U.S.
- Revenue in China slipped 10%, continuing a slowing in that market.
- Cook was asked about Trump claiming Apple was building plants in the U.S. He quoted the fact that Apple has created 2 million jobs, and says they are creating more every day and dodged the question about manufacturing. Sooooo…
- This marks the first year-over-year growth the iPad has seen since Q1 2013/Q1 2014. Over 1 million units were sold to educational institutions this quarter.
- This is the biggest quarter for Apple’s “Services” division, while “Other Products” keeps chugging along. Q4 will be the first quarter without iPod shuffle and iPod nano revenue. I expect to see no change in the number, lol/crying.
- Speaking of “Other,” Apple Watch sales are “up 50%,” but no concrete numbers were given.
- Apple still struggling to catch up with AirPod demand, but devices have “98% customer satisfaction.”
- ARKit was praised by Tim Cook, who thinks it’ll make a difference across education, entertainment, the enterprise and more. iOS 11 will make iOS the world’s “largest AR platform.”
- Apple Pay continuing to roll out to new countries this year.
- Cook blamed the rumor cycle for the “pause” in iPhone growth.
- Mac sales are flat year-over-year. Can we blame the lack of Mac mini updates? Probably not, but it is always fun to link to this page.
- AAPL is at an all-time high.