Apple reports record earnings in the most recent quarter, with iPhone sales increasing by 50% year on year

In China, Apple’s first 5G iPhones sold well, driving record June quarter revenue.
However, Apple warned that supply constraints would worsen in the September quarter, particularly for the iPhone and iPad.
Greater China, which includes mainland China, Hong Kong, and Taiwan, had the highest quarterly revenue growth of all regions,up 58.2% to $14.8 billion from $9.3 billion last year.

“The 12 Pro and 12 Pro Max were very well received in China,” Apple CEO Tim Cook said on a conference call Tuesday.

“We also set June quarter records for wearables, home and accessories, Mac, and services,” Cook added.

On whether Beijing’s recent moves to tighten regulations on Chinese big tech would affect Apple’s growth in the country, Cook said, “from our angle, what we are focusing on is serving users there and making sure that they are very satisfied with the products and services that we are showing.”

Apple’s revenue increased 30.2 percent to $6.5 billion in Japan.
The rest of Asia Pacific brought in $5.4 billion, up 28.5% from last year.

Apple’s record June earnings were driven by nearly 50% year-over-year iPhone sales of $39.57 billion.
A trend driven by widespread adoption of working from home and remote learning led to double-digit percentage growth in all other product categories for Apple.

Apple credited the strong year-over-year growth in all sectors and regions to the COVID-19 lockdown that hit revenue hard in the June quarter last year.

Apple also warned that supply constraints due to COVID-19 issues and global chip shortages would extend into the September quarter.

Previously, the company estimated a $3 billion to $4 billion revenue impact in the June quarter.
A few of those constraints have been eased in the last three months, Apple claims.

“We expect supply constraints to be worse in September than in June.
The restrictions mainly affect iPhone and iPad “Luca Maestri, Apple’s CFO, said during the call.

“Most of the constraints we’re seeing are industry shortages,” Cook added.

In after-hours trading Tuesday, Apple fell nearly 2%.