Consumers might be buying fewer iPads, but Apple’s unlikely to run out of money anytime soon.
The tech titan has released its financials for its Q3 period, revealing that it generated nearly $11 billion in profit over the last three months. This is a good third higher than the same period last year.
Revenue alone was $50 billion, unsurprisingly propelled by sales of the iPhone, which shifted 47.5 million handsets – a 60 per cent bump on Q3 2014.
Of course, the quarter marked the first test for the firm’s new eponymous wearable, the Apple Watch, following its launch in April.
However, the company kept quiet on unit sales of the timepiece, bundling it into its ‘Other’ product category, which was up 49 per cent year-on-year in terms of revenue.
The ‘Services’ division was also up, growing 12 per cent on 2014’s figure, thanks to last month’s launch of the Apple Music streaming service.
The service boasts a free three-month trial, meaning that many users won’t be paying a penny for a few weeks to come, so that figure is likely to rocket in mid-September, should it prove a success.
Meanwhile, iPad sales continued to drop, down 23 per cent in year-on-year revenue, with CEO Tim Cook explaining back in October that the tablet range doesn’t see the same annual buy-and-replace lifecycle as its smaller mobile brethren, as people hang onto their pads for longer.
Apple remains particularly popular outside of the US, with international sales comprising nearly two-thirds (64 per cent) of its revenue during Q3.