Despite slow iPhone sales, Apple is racing ahead to become the world's first trillion-dollar company as it posted revenue of $53.3 billion in its fiscal third quarter -- an increase of 17 per cent from the year-ago quarter.
International sales accounted for 60 per cent of the quarter's revenue, the Cupertino-based giant said in a statement late on Tuesday.
Apple reported net income of $11.5 billion and operating cash flow of $14.5 billion.
"We're thrilled to report Apple's best June quarter ever, and our fourth consecutive quarter of double-digit revenue growth," said CEO Tim Cook.
"Our Q3 results were driven by continued strong sales of iPhone, Services and Wearables, and we are very excited about the products and services in our pipeline," he added.
The biggest $9.55 billion revenue came from Apple services (Apple Music, iCloud and Apple Care).
According to The Verge, the strong forecast could suggest that multiple new hardware devices are coming in the fall.
"Rumours suggest that up to three new iPhone models could be announced, while consumers are also anticipating a new version of the iPad Pro and a redesigned Apple Watch," said the report.
Apple currently has a market cap of $935 billion.
"If stock continues to rise above 7 per cent, Apple could become the first trillion-dollar company at a price of $203.46 per share," said the report.
Apple's CFO Luca Maestri said that the company returned almost $25 billion to investors through its capital return programme during the quarter, including $20 billion in share repurchases.
Apple forecasts revenue between $60 billion and $62 billion and operating expenses between $7.95 billion and $8.05 billion for its fiscal 2018 fourth quarter.
Catch up on all the latest <a title="mid-day news" href="https://www.mid-day.com/news" target="_blank">Crime, National, International and Hatke news</a> here. Also download the new mid-day <a title="mid-day android app " href="https://goo.gl/8Xlcvr" target="_blank">Android</a> and <a title="mid-day iOS app" href="https://goo.gl/KQziH4" target="_blank">iOS</a> apps to get latest updates
<div id=":74.co" class="JL">
<div id=":74.co" class="JL" style="text-align: justify;">This story has been sourced from a third party syndicated feed, agencies. Except for the change in headline, the story has been provided "AS-IS," "AS AVAILABLE, without any verification or editing from our side. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.</div>
</div>

International sales accounted for 60 per cent of the quarter's revenue, the Cupertino-based giant said in a statement late on Tuesday

With record dollar 53.3 billion revenue, Apple eyes dollar 1-trillion mark

Trending Stories

Latest Photos

Latest Videos

Latest Web Stories

Mid-Day Fast

Home / Technology / Article / With record dollar 53.3 billion revenue, Apple eyes dollar 1-trillion mark

With record dollar 53.3 billion revenue, Apple eyes dollar 1-trillion mark

Trending Stories

Latest Photos

Latest Videos

Latest Web Stories

Mid-Day Fast