Apple hits $53.8 billion in revenues for Q3 2019, up 1% year over year

Apple today announced financial results for the third quarter of its fiscal year 2019 ended June 29, revealing $53.8 billion in revenues for that period. However, the figure represented only a 1% increase from its financial results from the same period last year.

According to the company's financial statements, net iPhone sales amounted to $25.99 billion during its Q3 2019, down from $29.47 billion during the same period in 2018. Meanwhile, Mac sales grew to $5.82 billion from last year's $5.26 billion and iPad sales to $5.02 billion from $4.63 billion. In addition, sales for its wearables, home and accessories increased to $5.53 billion from $3.73 billion year-over-year and services were up to $11.46 billion from its year-ago result of $10.17 billion.

Regarding its latest financial report, Apple’s CEO Tim Cook said:

“This was our biggest June quarter ever — driven by all-time record revenue from Services, accelerating growth from Wearables, strong performance from iPad and Mac and significant improvement in iPhone trends. These results are promising across all our geographic segments, and we’re confident about what’s ahead. The balance of calendar 2019 will be an exciting period, with major launches on all of our platforms, new services and several new products.”

The latest figure shows a bit of an improvement compared to Apple's previous quarterly results. For its fiscal 2019 second-quarter results, the company posted revenue of $58 billion, down 5% from the same period in 2018. Its fiscal 2019 first quarter recorded the same level of revenue drop to $84.3 billion from its year-ago quarter. For the fourth quarter of its fiscal year 2019, Apple targets a revenue between $61 billion and $64 billion.

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