Apple Admits iPhone Delay
Apple has confirmed rumours that the next iPhone would be delayed. The company had a surge in sales across all of its hardware segments that drove double-digit jumps in revenue and profit in its fiscal third quarter.
During the earnings call, CFO Luca Maestri said the company expects its forthcoming iPhones to become available a few weeks later than the usual late September timeframe, without explaining why. Executives appeared to concede the iPhone delay would hinder sales in the current quarter.
Apple had hikes in hardware revenue across the board, including a return to growth for iPhone sales, despite global store closures related to the COVID-19 pandemic. Total revenue of $59.7 billion was up 11% compared with the same period last year. Profit was $11.3 billion, 12% higher.
CEO Tim Cook noted a shift to remote work among consumers helped drive strong sales of iPad, with revenue up 31% to $6.6 billion. Mac sales also benefitted, up 21.6% to $7.1 billion. Maestri said the iPad figure was the highest June quarter revenue in eight years. Revenue from iPhone grew 1.7% to $26.4 billion.