Apple’s record-breaking earnings report by the numbers

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Apple financial results on an iPad Pro
A dive into Apple’s most recent financial results shows what’s really happening with the company.
Photo: Ed Hardy/Cult of Mac

After several rocky quarters, Apple set a new record for third-quarter revenue. Plus there’s good news in iPad and Mac sales. However, iPhone revenue slipped considerably.

Check out these charts that demonstrate with a glance how the company did last quarter.


You can tap on any of these charts to get a larger, easier-to-see version.

Record Q3 revenue

Apple’s revenue during the April-through-June period was up only slightly year-over-year, but it nevertheless was more than the company had taken in during any previous Q3. That’s good news for a company that struggled a bit earlier in the year.

Apple quarterly revenue Q3 2019
Apple set a new revenue record last quarter. (Revenue in thousands)
Chart: Ed Hardy/Cult of Mac

On this chart, remember that the April-June quarter is Q3 on Apple’s financial year. So compare the most recent Q3 figures to the past three years, noticing that it’s higher than any of them.

Increased revenue didn’t lead to increased profits. Don’t be mistaken, Apple remains extremely profitable. It just didn’t make as much last quarter as it did during the same period of 2018. That said, last quarter’s income was higher than Q3 of 2017 or 2016.

Apple quarterly profit Q3 2019
Apple’s profits were down year-over-year in the April-June quarter. (Revenue in thousands)
Chart: Ed Hardy/Cult of Mac

Slowing iPhone sales

You don’t have to look hard to see why Apple’s profits are down: weak iPhone sales. We don’t yet know exactly how many iPhone units Apple shipped from April through June because the company no longer announces that figure. But it does say how much revenue it took in from handsets, and that number is down year-over-year.

iPhone quarterly revenue Q3 2019
The money Apple has taken in from selling iPhones has been down YoY for some time. (Revenue in thousands)
Chart: Ed Hardy/Cult of Mac

As the chart shows, this is the continuation of a trend that has been going on all year.

Strong iPad and Mac sales

iPhone is the only Apple computer that’s seeing a drop in sales. iPad revenue from April through June was up 8% year-over-year. It’s the most Apple has taken in from tablets during its Q3 since at least 2016.

iPad quarterly revenue Q3 2019
Strong sales of tablets helped push up Apple’s quarterly revenue. (Revenue in thousands)
Chart: Ed Hardy/Cult of Mac

CEO Tim Cook said during a call with investors this afternoon that tablet revenue is being buoyed by strong demand for the 2018 iPad Pro.

And money from Mac sales was also up year-over-year. And you can add a couple of “-over-years” to that because this was a stellar Q3 for macOS sales.

Mac quarterly revenue Q3 2019
Mac revenue was also higher than it had been in any Q3 for years. (Revenue in thousands)
Chart: Ed Hardy/Cult of Mac

As with iPhone, we don’t know how many iPad or Mac units were sold because Apple stopped revealing these figures. Analysts will likely announce their estimates of units shipped for all three products soon, however.

Where Apple gets its money globally

While Apple computers are popular around the world, much of its revenue comes from the Americas. And an increase in revenue in this region helped push up Apple’s bottom line last quarter. The company also year-over-year quarterly increases in Japan and parts of Asia-Pacific.

Apple quarterly revenue by region Q3 2019
Apple’s revenue was up in some regions, but down in others. (Revenue in thousands)
Chart: Ed Hardy/Cult of Mac

However, the company didn’t fare as well in Europe and China, which saw YoY declines in Q3.