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Apple Surpasses Expectations Set by the Analysts for the Third Quarter

Apple is the top selling smartphone company in the world and it has always delivered the best whether it is in terms of its new launches or the yearly and quarterly revenue its generates.

Though the revenue results for Apple have always been great, the analyst at Wall Streets had lower expectations from the company for the revenue of the third quarter this year because of a global supply chain shortage.

However, Apple proved all wrong and surpassed everyone’s expectations coming out with an amazing result for the third quarter as well.

According to the analysts at Wall Street the company was expected to generate a revenue of 73.3 billion dollars, however it managed to raise an 81.32 billion dollars. While revenue for both iPhone and services was expected to be 36.5 billion dollars and 16.3 billion dollars respectively, the iPhone alone generated a revenue of around 39.6 billion dollars and the generated revenue from other services was around 17.5 billion dollars.

Despite Wall Street having its own assumptions, Apple had already mentioned that the global supply chain will not affect its iPhone productions and sale. However, the company had minor speculations that the sales and production for iPad and MacBook’s could be affected.

However, though they had speculations, not a lot of production for both iPad and MacBook’s were affected and whatever minor differences occurred in the cost due the supply shortage, Apple managed to cover it through the major revenue it earned from the iPhone sales.

Apart from this the major sales in iPhone this quarter alone managed to increase the iPhone sales by (nearly) 50 percent compared to the same time last year, but what were the reasons that helped Apple surpass the expected sale rate? Apple believes that one of the major reasons for the increase in sale is because of a lot of Android users switched to iPhones while old iPhones users also upgraded to newer models.

Not only iPhone sales showed a better revenue rate than last year but other Apple services like App Store, Apple Music, and TV did not stay behind and managed to get a raise by 33 percent compared to what it results were last year.

After the quarterly results for Apple came out many analysts praised Apple for the splendid performance and sales it had managed to achieve despite the circumstances and one analyst named Dan Ives that Apple had showed a gold medal performance because it was not easy to achieve such high revenues and sale rates in between a chip shortage problem.

Apple is not called the number one phone company without any reason, the company manages to outdo itself despite the circumstances that it encounters and have always been loved by its users.

Chart: Statista.

Read next: Elon Musk Mocks Apple For Using Eco-Unfriendly Elements In iPhone And Mac Batteries

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