Top 8 Apple Q3 results insights: No Apple Watch sales data, iPhone dominates and over $200bn in cash

The iPhone is driving huge profits, but no word on Apple Watch sales

Apple released its Q3 financials on Tuesday evening, once again posting some truly impressive top-line numbers. Profit came in at over $10bn, generated from revenue of almost $50bn.

However, there were some other interesting numbers behind the headline figures – or not, in the case of the Apple Watch – which we’ve rounded up below.

No Apple Watch numbers

Apple Watch will be available from 29 April

The market had expected Apple to issue its first official sales figures for the Apple Watch. However, Apple again chose not to make this information public, instead lumping Apple Watch sales data in with its ‘Other products’ category in the Apple Q3 2015 sales data (PDF) which generated $2.64bn in the quarter.

This category also includes Apple TV, Beats Electronics, iPod and Apple-branded and third-party accessories sales, so it’s hard to get a true picture of just how well the wearable has sold, although chief executive Tim Cook did give some insight during an earnings call.

“To provide a bit more colour, sales of the Watch did exceed our expectations and they did so despite supply still trailing demand at the end of the quarter,” he said. 

“And to give you a little additional insight, through the end of the quarter, in fact, the Apple Watch sell-through was higher than the comparable launch periods of the original iPhone or the original iPad.”

iPhone still dominates

iPhone 6 is available in silver gold and space grey

The iPhone remains Apple’s top product by some distance, generating $40bn in revenue, up 59 percent on last year’s quarter, with unit sales up 35 percent on Q3 2014 at 47 million.

China loves the iPhone

asia-globe- roll-out

One startling revelation in the results is that revenues in China grew 112 percent year on year. This will have been driven almost entirely by the iPhone 6 and iPhone 6 Plus, as the big screen devices have been a huge hit in the country.

This means that China has been a bigger market for Apple than Europe for the second quarter in a row.

iPad still on the decline
Apple iPad Mini 3 with Touch ID sensor

Apple revealed during the earnings call that it has signed up some notable business customers through its partnership with IBM, including National Grid in the UK. 

However, while the IBM partnership has been seen as Apple’s attempt to stem falling iPad sales, the tactic is not working.

The figures for Q3 show that sales of the tablet were down 23 percent year on year and 16 percent sequentially. Still, the iPad added $10bn to Apple’s revenue.

Macs on the up
Yet again Apple’s Mac range of machines sold well, seeing $6bn in revenue and sales of 4.79 million, both figures up year on year and sequentially.

Over 450 Apple Stores around the world

Apple Store Stratford Westfield
Cook also revealed that Apple now has 456 Apple Stores, 190 of which are outside the US. It is also on track to have 40 outlets in China by the middle of 2016.

Apple has cash, lots and lots of cash

money-wad-dollar

Apple now has over $200bn in cash and securities – $202.8bn to be exact. It’s a truly staggering amount and underlines just how dominant Apple has become, not just in the technology industry but in the entire business world.

But the market isn’t happy
So after yet another amazing quarter with sales to make most other companies throw their hands up in despair is the market happy? No, of course not.

Why? Because Apple’s outlook for its Q4 results is not what was hoped for. The projection is from $49bn to $51bn in revenue. This is lower than expected so shares in the company fell by as much as eight percent in overnight trading, wiping billions off the company’s value.

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22 July 2015 | 10:50 am – Source: v3.co.uk

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