Apple defies delivery bottlenecks and sets new record numbers.
(Photo: Reuters)
Cupertino Apple had another record quarter last Christmas with a profit of $34.6 billion. That was a good fifth more than a year earlier. Sales rose by around eleven percent to 123.9 billion dollars (111.2 billion euros), also a record. The iPhone group defied the global component bottlenecks that are slowing down the industry.
The iPhone was once again the growth driver. Sales of Apple’s smartphone rose to $71.6 billion year-on-year, Apple announced after the US stock market closed on Thursday. That was an increase of nine percent year-on-year. There was also significant growth in Mac computers, the division with the Apple Watch and accessories, and in the app business – while the iPad business declined somewhat.
As recently as October, company boss Tim Cook had warned that the chip crisis was now affecting most Apple products. At the time, he assumed that the bottlenecks could push sales by $6 billion. Ultimately, there were even more, said CFO Luca Maestri to Reuters. However, the restrictions would ease in the current quarter. “They have navigated the supply chain better than anyone and it shows in their results,” said Ryan Reith of market watcher IDC.
Apple’s numbers beat analysts’ expectations. The stock rose more than 3 percent in after-hours trading. The Christmas quarter with fresh iPhone models is traditionally the strongest of the year for the group.
Top jobs of the day
Find the best jobs now and
be notified by email.
The company benefited above all from thriving business in the People’s Republic, where, according to Counterpoint’s consultants, Apple boosted its iPhone market share in the fourth quarter like never before. For the first time in six years, Americans sold more smartphones than any other supplier in China.
More: Apple regains smartphone market leadership in China