REUTERS: Apple Inc on Thursday delivered blowout quarterly results, reporting year-on-year revenue gains across every category and in every geography as consumers working and learning from home during the COVID-19 pandemic turned to its products and services.
With 60per cent of sales coming from international markets, the Cupertino, California-based company posted iPhone revenues of US$26.42 billion, US$4 billion above analyst expectations of US$22.37 billion, according to IBES data from Refinitiv. The continued growth in services and accessories also showed the durability of the company's brand, which has prompted investors to view it as a comparative safe haven and pushed up share prices since March.
Sales in the wearables segment that includes the Apple Watch rose 16.7per cent to US$6.45 billion, compared with US$5.53 billion a year ago and estimates of US$6.0 billion, according to Refinitiv data.Apple's results come as most analysts expect the release of at least some of its new iPhone models this fall to be delayed after several major Apple suppliers such Broadcom Inc and Qualcomm Inc have given forecasts that included a delayed fall launch from a major customer.
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