The company smartly clubbed the sale of Apple Watch -- the first product designed from ground zero after Cook took over from iconic Jobs as the CEO -- and said that the revenues from "other products" that included Apple Watch, Apple TV, Beats, iPod and other products, stood at $2.6 billion, an increase of 49% from the same quarter of last year.
Tim Cook-led Apple Inc reported a 33% jump in its revenues for the third quarter results that it announced on July 21, 2015.
Its revenues stood at a whopping $49.6 billion as against $37.43 billion in the same quarter of last year. Revenues from China jumped 112%, at $13.23 billion and Americas (including the US) earned the company $20 billion with a jump of 15%.
Apart from iPads, that fell 23%, from a revenue of $5.88 billion to $4.53 billion, all other categories for the company showed healthy growth.
Although, the company did not reveal the numbers of its latest launch -- the Apple Watch. Tim Cook, CEO, Apple Inc said that the company had a "great start" for Apple Watch.
The company smartly clubbed the sale of Apple Watch -- the first product designed from ground zero after Cook took over from iconic Jobs as the CEO -- and said that the revenues from "other products" that included Apple Watch, Apple TV, Beats, iPod and other products, stood at $2.6 billion, an increase of 49% from the same quarter of last year.
The iPhones sold 35% more units earning the company 59% more in revenues.
Even after such great numbers, why did Apple's stock fell eroding nearly $60 billion in its market capitalisation on July 21?
The answer lies in the numbers.
Even though the company reported healthy growth in sales, revenues, and profits -- which went up 39%, at $10.7 billion, its gross margin went up only 0.8% to 39.7%.
The company said that it expects its gross margin to fall in the coming quarter and expects it to be between 38.5% to 39.5%.
Moreover, on a quarter-on-quarter basis, i.e. compared to the three months preceding the one it announced its results for, the company's performance and sales have dipped.
In the second quarter of the current year, Apple earned revenues worth $58 billion. This means that the third quarter revenues of $49.6 billion is a 14% drop.
Revenues from China, which grew 112% on a year-on-year basis, fell 21% over the second quarter.
Americas reported a 5% drop in revenues from $21.3 billion to $20.2 billion followed by a 15% drop in European revenues of nearly $2 billion.
Apple sold 47.5 million iPhones in the third quarter, a whopping 22% less from the second quarter sales of 61.1 million units.
iPads sales fell 13%, from 12.6 million to 10.9 million.
Only Mac sales grew 5% and reported 4.79 million units from 4.5 million in the second quarter.
Apple said that it expects revenues from the fourth quarter to be between $49 to $51 billion. Revenues for third quarter were $49.6 billion and $58 billion in second quarter.
The future, clearly, doesn't look appealing.
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