Apple today announced financial results for its fiscal 2018 third quarter ended June 30, 2018. The Company posted quarterly revenue of $53.3 billion, an increase of 17 percent from the year-ago quarter.
“We’re thrilled to report Apple’s best June quarter ever, and our fourth consecutive quarter of double-digit revenue growth,” said Tim Cook, Apple’s CEO. “Our Q3 results were driven by continued strong sales of iPhone, Services and Wearables, and we are very excited about the products and services in our pipeline.”
Pricing the iPhone X at a premium above US$1000 proved to be a masterstroke for the company and investors, over 120,000 units of iPhones have been sold from launch last year till June of this year. However the figures are a combination of all iPhone model sold with bulk of revenue is still from the States with China and Europe combined provided the other 50% of total sales. Noticeably while revenue showed a healthy number in Q3 against last year the performance versus Q2 this year saw a 13% drop. Nevertheless, Apple’s annual report is consistent with its quarterly manner of performance.