Apple has announced its earnings for the third quarter of this year, and the Cupertino giant has surpassed Wall Street expectations. It recorded higher-than-expected revenues, and sales for the iPhone and iPads were up as well. During the call, CEO Tim Cook also spoke about how ‘bullish’ and ‘optimistic’ he was about the Indian market.
Cook talked about how he is seeing a lot of similarities between India and where China was several years ago. During the call, he said, “I’m very, very bullish and very, very optimistic about India.” He further said, “We’ve already launched an app accelerator center. That’s on top of working with the channel and looking at expanding our go-to-market in general. And we began to produce the iPhone SE there during the quarter, and we’re really happy with how that’s going. And so we’re bringing all of our energies to bear there.”
Apple recorded revenues of of $45.4 billion, which is not only 7.2 percent year-over-year increase, but also beat Wall Street’s forecast of $44.89 billion. Apple’s iPhones continued on their growth trajectory, with the company having sold 41.03 million iPhones during this quarter. This marks a 1.6 percent growth, from 40.4 million iPhones sold last year.
What caught our eyes though is that for the first time in three years, Apple recorded a rise in iPad shipments. The company sold 11.4 million iPads during this quarter, which is up from 10 million iPads sold in the same period last year (two percent year-over-year increase). ALSO READ: 9.7-inch iPad: Replacing the iPad Air 2 is a win-win move for Indian consumers and Apple India
Apple also sold 4.3 million Macs during this time, which is up from 4.25 million units of the Mac sold in the same period last year.