Apple iPhone shipments grew 13.1% in Q2 despite pandemic, report says [u]

Apple reported iPhone sales some $4bn above analysts expectations

Apple reported iPhone sales some $4bn above analysts expectations

"And I said that this year, the supply of the new product will be a few weeks later than that". Shares rose five percent in extended trading after the results.

But Apple bought 13 million iPhones in the June quarter, up 62% year-on-12 months, in accordance to facts from Shanghai-primarily based CINNO Investigation.

Services, which includes the App Store, Apple Music and iCloud subscriptions, generated sales of US$13.2 billion, up from US$11.5 billion a year ago and roughly in line with Wall Street expectations.

In an interview with Reuters, CEO Tim Cook said that after disruptions in April, sales began to pick back up in May and June, helped by what he called a "strong" launch for the $399 iPhone SE introduced in April.

Apple sold more iPhones, iPads and computers that led to a rise in earnings, according to Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

Wearables growth decelerated but still grew by strong double-digits and set a revenue record for a non-holiday quarter. Announcing a product delay ahead of time is unusual for Apple, which rarely previews the release of new devices.

England beat Ireland by 6 wickets in low scoring 1st ODI
Paul Stirling was the Ireland opener to depart for two, miscuing a full and in-swinging delivery to Morgan at short midwicket. Former Ireland batsman Morgan completed a win with more than 22 overs to spare when he hit spinner Simi Singh for six.

Apple traditionally releases a new iPhone in late September but Apple Chief Financial Officer Luca Maestri said on a call with analysts that Apple expects iPhone supply to be delayed for a few weeks.

Apple saw its smartphone sales boosted by the launch of its iPhone SE in April, while United States stimulus payments to citizens and the relaxation of lockdown measures over May and June also helped to drive performance.

Apple's iPhone business was basically flat from a revenue perspective: It posted $26.4 billion in revenues compared to $26 billion in the year-ago quarter.

Fiscal third-quarter revenue came in at $59.7 billion, a record for the June period, Apple said in a statement. The stock jumped more than five per cent in extended trading.

All of Apple's other businesses saw sharp upticks in the quarter.

Despite Apple's (NASDAQ: AAPL) strong stock market run, weakness on the product side has been a prime concern for many investors. Apple also announced a four-for-one stock split to take effect on 31 August 2020.

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