UPDATE: Apple shared a few interesting tidbits of info during the call, including the news that the iPhone SE demand outstripped supply and that India is one of Apple's fastest growing markets. Apple also revealed that three out of four contactless payments made in the U.S. are made with Apple Pay.
It’s earnings season once again, and today Apple reported the results of its third quarter for fiscal 2016.
During the three-month period that ended on June 27, Apple sold 40.4 million iPhones, down from 47.5 million units sold in Q3 FY15. iPad sales declined, too, going from 10.9 million in Q3 FY15 to 9.95 million iPads in Q3 FY16. Finally, Mac sales fell from 4.8 million in Q3 FY15 to 4.2 million in Q3 FY16.
Apple also reported the revenue, but not the sales numbers, for an “Other Product” category that includes the Apple TV, Apple Watch, Beats Electronics, iPods, and accessories. Revenue of that category dropped from $2.6 billion in Q3 FY15 to $2.2 billion in Q3 FY16.
Apple’s total revenue for Q3 FY16 finished at $42.4 billion, down from $49.6 billion in Q3 FY15. Net profit for Q3 FY16 finished at $7.8 billion, down from $10.7 billion in Q3 FY15.
Despite drops in just about every category, Apple did manage to beat analyst estimates, selling 40.4 million iPhones when it was expected that they’ sell 40.02 million. Apple’s revenue also beat analyst estimates, coming in at $42.36 billion while the estimates were pegged at $42.09 billion.
Here’s what Apple CEO Tim Cook had to say about today’s results:
“We are pleased to report third quarter results that reflect stronger customer demand and business performance than we anticipated at the start of the quarter. We had a very successful launch of iPhone SE and we’re thrilled by customers’ and developers’ response to software and services we previewed at WWDC in June.”
Apple will hold an analyst call at 5:00 pm ET to discuss its results. I’ll be listening in and will report back with any interesting tidbits that get shared.
