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Apple’s Q3: Services, iPhone, loyalty help company (narrowly) beat estimates

Apple late Thursday announced yet another new June quarter record, confirming strong demand for iPhones, pointing to record services revenue while admitting it couldn’t make enough Macs or iPads to meet demand.

The company announced record revenue of $83 billion for the period, up 2% year over year. Quarterly earnings per diluted share hit $1.20, at the high end of analysts’ consensus of $82.81 billion.

Moving forward, Apple remains on track to keep spending money, even as the global economy may be slowing. “We believe in investing through the downturn,” said Apple CEO Tim Cook. “But we are being more deliberate in doing so in recognition of the environment.”
He stressed that while recruitment may decelerate, the company continues to grow.

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Source:: Computerworld