Tech
Sales of Macs and iPads Lead Apple’s Quarterly Revenue Up 5%
While iPhone sales dropped 1 percent, consumer interest in Apple’s flagship product is expected to pick up later this year.
This spring, Apple updated its iPads and Macs with faster processors and new features. The improvements are already paying off.
On Thursday, the tech giant said sales of iPads and Macs jumped by more than 12 percent during the three months that ended in June, helping the company bounce back after a series of lackluster quarters.
Apple reported that sales rose 5 percent, to $85.78 billion, while profit increased 8 percent, to $21.45 billion. The results exceeded Wall Street analysts’ expectations for $20.65billion in profit during the quarter.
The company said it expected revenue to increase in the current quarter, which ends in September. Shares were flat in after-hours trading.
Demand for iPads and Macs helped offset weak iPhone sales. Interest in iPhones has wanedin China, where competition from Huawei has intensified.
In China, sales of Huawei phones have surged over the past year. The Chinese smartphone maker increased its shipments in China by 45 percent during the June quarter, while Apple’s shipments fell 5 percent.
