Apple Posts Record Earnings in Fiscal Q3

    • Apple posted record fiscal third quarter earnings on the strength of iPhone sales that surged nearly 50% from the previous year.
    • The growth was spread across the company's divisions.

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Apple posted its best revenue ever for a quarter ending in June, as the tech giant edges further into fitness and media. 

The largest company in the world by market capitalization, with $2.44 trillion, posted fiscal Q3 revenues of $81.4 billion, a 36% increase from the same period last year.

The growth was spread across multiple key divisions.

  • iPhone sales surged 49.8% YoY to $39.6 billion.
  • Services — which includes Apple TV+, Apple Music, and Apple Arcade — jumped 32.9% YoY to $17.5 billion.
  • Wearables, Home & Accessories grew 36% YoY to $8.78 billion for the quarter. The growth boosts the potential market for Apple Fitness+, which integrates with biodata collected by the Apple Watch.

The fresh infusion of iPhones, Macs (sales up 16%), and iPads (sales up 12%) could bring new customers to Apple Arcade, the company’s subscription gaming service.

Apple TV+, which scored a big hit with its soccer coach-focused comedy “Ted Lasso,” may be making a move into live sports. Last year, the company hired James DeLorenzo, who previously led Amazon’s sports efforts.

The streaming service is reportedly in the running for rights to NFL Sunday Ticket.