Apple yesterday presented disappointing financial results for the fourth quarter of its fiscal year. In question, iPhone sales are falling short of expectations amid a global chip shortage.
In the conference call held by the American giant, its chief executive, Tim Cook, said that the company’s revenue would have been $ 6 billion higher without the chip shortage and supply chain constraints. And this is not going to be fixed for the latter, who believes that the consequences of the shortage will be felt even more during the next quarter.
Apple’s revenue for the three months ending in September was $ 83.4 billion, or a net income of $ 1.24 per share. Analysts expected $ 85 billion in revenue. Note that Apple’s annual turnover increased 33% to $ 366 billion.
Sales still on the rise
Apple ended the quarter with $ 190.5 billion in cash, cash equivalents and marketable securities, down from $ 194 billion in the prior quarter, compared to $ 125 billion in term debt and commercial paper bonds, for a net cash position of $ 66 billion. Apple intends to achieve a “net zero” cash position over time.
Apple said it made $ 38.69 billion in iPhone revenue in the quarter, up 47% from the prior year. This figure is lower than the Wall Street average estimate of $ 41.7 billion.
Apple’s revenue from Mac sales increased 1.6% to $ 9.18 billion. IPad sales increased 21% to $ 8.25 billion. Sales for the “Wearables, Home and Accessories” category increased 12% to $ 8.79 billion. And Apple’s service revenue increased 27% to $ 18.28 billion.
An estimated impact of $ 6 billion
During the conference call that followed the earnings announcement, Tim Cook highlighted the impact of the chip shortage on sales. “We estimate that these constraints affected revenue by around $ 6 billion, primarily due to industry-wide silicon shortages and COVID-related manufacturing disruptions,” said a-.
Regarding the company’s outlook, Apple management said that “given the continuing uncertainty in the world,” the company will not make a forecast for the current quarter, but will offer “directional assumptions.” “We estimate that the impact of supply restrictions will be greater in the December quarter. ”
When asked about the impact of the supply chain this quarter, Tim Cook said that the disruption caused by the health crisis has eased, but the shortage of chips will persist for months to come. However, he estimated that Apple “got much more supply” during the quarter but that the shortage greater than expected is a consequence of strong demand for its products.
Apple now claims 745 million paid subscriptions across all its platforms and services, more than 160 million more than the previous year’s total and five times more than the company had less than five years earlier.
Woodmart Theme Nulled, WP Reset Pro, Newspaper 11.2, Newspaper – News & WooCommerce WordPress Theme, Premium Addons for Elementor, Rank Math Seo Pro Weadown, WeaPlay, WordPress Theme, Plugins, PHP Script, Jannah Nulled, Elementor Pro Weadown, Woocommerce Custom Product Ad, Business Consulting Nulled, Jnews 8.1.0 Nulled, Avada 7.4 Nulled, Nulledfire, Dokan Pro Nulled, Yoast Nulled, Flatsome Nulled, PW WooCommerce Gift Cards Pro Nulled, Astra Pro Nulled, Woodmart Theme Nulled, Slider Revolution Nulled, Wordfence Premium Nulled, Elementor Pro Weadown, Wpml Nulled, Consulting 6.1.4 Nulled, Fs Poster Plugin Nulled