Apple’s third-quarter earnings are out and the corporate was fast to spotlight its stable iPhone gross sales and burgeoning providers section. The large shock, nonetheless, was the 15 p.c year-over-year enhance in iPad unit gross sales, which appears to contradict the dominating narrative that the corporate’s iPad section was dropping steam as a consequence of lengthier improve cycles.
The 15 p.c enhance brings unit gross sales for Q3 to 11.four million on income of $four.96 billion. Curiously, whereas iPhone unit gross sales declined 19 p.c quarter over quarter, iPad gross sales shot up 28 p.c due to new product introductions.
Apple has been more and more directing consideration to the high-end with its iPad Professional line, which now options three completely different sizes following the reveal of a 10.5-inch mannequin at WWDC this 12 months. Whereas unit gross sales are up 15 p.c, the truth that income gross sales are simply up 2 p.c recommend that persons are nonetheless favoring the cheaper pill choices. In March, Apple launched a $329 price range mannequin to switch the extra expensive iPad Air 2.
In an earnings name, Cook dinner detailed that gross sales within the schooling market have been up 32 p.c year-over-year at practically 1 million items.
Apple’s inventory is up 5 p.c after hours.