Apple Inc. (NASDAQ:AAPL) has officially released its fiscal Q3 earnings 2015 which appears to be a massive improvement over the same period a year back. The Cupertino giant posted a record $49.6 billion in revenue with a profit of $10.7 billion, which is quite a substantial improvement compared to Q3 2014 in which the company posted $7.7 billion net profit from $37.4 billion in revenue.
“We had an amazing quarter, with iPhone revenue up 59 percent over last year, strong sales of Mac, all-time record revenue from services, driven by the App Store, and a great start for Apple Watch,” Apple CEO Tim Cook wrote in the release. “The excitement for Apple Music has been incredible, and we’re looking forward to releasing iOS 9, OS X El Capitan and watchOS 2 to customers in the fall.”
Though, iPhones sales were below analyst predictions of 49-50 million units as the company managed to sell 47.5 million iPhones during the quarter, which took a slight toll on the company’s stock. However, its iPhone revenue just got stronger this time as it grew by a whopping 59% compared from a year ago. This can be attributed to the average price increase that is now $660 compared to $561 last year. Even Mac sales were up by 8.8 percent and has grown from 4.4 million last year to 4.8 million units in this quarter. Though yet again iPad sales dipped as it declined by 17.9 percent coming down to 10.9 million units compared to 13.4 million units in Q3 2014.
Surprisingly, Apple did not specify the number of Apple Watch units sold during the quarter, except for the fact that total sales of the smartwatch amounted more than $1 billion. The company also mentioned that demand of the smartwatch exceeded the demand for the iPhone and iPad in the same period after their launch.
Meanwhile, the international revenue in this quarter accounted for a whopping 64 percent of the company’s total revenue, largely the massive success of iPhones in the Chinese market. Sales in Greater China grew a massive 112% year-over-year, which accounts for the company’s sales in China, Hong Kong and Taiwan.
Hence, compared to the same period last year, the overall growth saw a rise of 32.5 percent in revenue along with a 44.5 percent rise in its EPS (earnings per share), which is quite impressive. However, despite the phenomenal results in the quarter, Apple’s shares are continuously dipping in after-hours trading.