Apple announces huge revenue in the Q3 financial report with the help of the iPhone X

With excitement, Apple announced its Q3 financial report with a record sale of 41.3 million iPhones, with the iPhone X performing extremely well. The figures will surely interest Apple as they performed better than last year which as 41.03 million iPhones in the same quarter.

Apple announces huge revenue in the Q3 financial report with the help of the iPhone X

Apple CEO Tim Cook in a press release attributing the results to strong iPhones, services and wearables sales said,

“We’re thrilled to report Apple’s best June quarter ever, and our fourth consecutive quarter of double-digit revenue growth, We are very excited about the products and services in our pipeline,”

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Speaking on these numbers, chief investment officer of Apple investor Merlin Asset Management Michael Obuchowski said,

“This was the most exciting quarter from Apple in quite some time, The success of Apple’s transition from a device to services company was undeniable.”

Tim Cook while addressing analysts spoke about iPhone sales and the AirPods, he added that this kind to huge revenue earning is the “seventh consecutive quarter of accelerating growth, our fourth consecutive quarter of double-digit growth and our strongest rate of growth in the past 11 quarters.”

The iPhone X added more features to the iPhone with new Face ID technology and removed the home button to expand the touchscreen. Since its release back in Nov 3, the iPhone X became Apple’s best-selling device and also the most expensive, selling for $999.

 Apple’s iPhone average selling price in the third quarter jumped to $724 from $606 a year ago. In the second quarter, the ASP was $728. In addition, for the fourth quarter, Apple projected revenue of $60 billion to $62 billion, above the $59.6 billion expected by analysts.

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