Apple reports 50% year-over-year jump in iPhone sales

iphone sales

Apple announced revenues of $81.4 billion for its fiscal third quarter to June, up 36 percent from a year earlier.

While growth slowed from the 54 percent annual increase in sales in the previous quarter, Apple said it set new revenue records in all regions. The company’s net profit nearly doubled, to $21.7 billion from $11.3 billion in the same period of 2020, and Apple maintained the quarterly dividend at 22 cents a share.

So while Apple’s sales were up 36 percent from the June quarter last year, iPhone sales increased nearly 50 percent on an annual basis. 

This quarter, our teams built on a period of unmatched innovation by sharing powerful new products with our users, at a time when using technology to connect people everywhere has never been more important, said Tim Cook, Apple’s CEO.

“We’re continuing to press forward in our work to infuse everything we make with the values that define us — by inspiring a new generation of developers to learn to code, moving closer to our 2030 environment goal, and engaging in the urgent work of building a more equitable future.”

Apple said in a statement, “Our record June quarter operating performance included new revenue records in each of our geographic segments, double-digit growth in each of our product categories, and a new all-time high for our installed base of active devices,” said Luca Maestri, Apple’s CFO.

“We generated $21 billion of operating cash flow, returned nearly $29 billion to our shareholders during the quarter, and continued to make significant investments across our business to support our long-term growth plans.”

However, Apple CFO Luca Maestri said Apple expects double-digit, year-over-year growth in the current quarter. Maestri said that Apple expected less than 36% growth in the September quarter because of foreign exchange rates, less growth in its services business and supply constraints for iPhones and iPads.

Tim Cook said in a call with analysts that Apple is seeing supply constraints related to “silicon” (a common term for computer chips) that would affect the company’s iPhone and iPad sales in the September quarter.