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Business Times: Apple quarterly profit nearly doubles to US$21.7b

[SAN FRANCISCO] Apple said Tuesday its profit in the just-ended quarter nearly doubled to US$21.7 billion on growth in iPhone sales and digital services.

Revenue surged 36 per cent from a year ago to US$81.4 billion, the best ever for the tech titan’s fiscal third quarter.

“This quarter, our teams built on a period of unmatched innovation by sharing powerful new products with our users, at a time when using technology to connect people everywhere has never been more important,” said chief executive Tim Cook.

Mr Cook said an easing of pandemic lockdowns helped boost consumer spending in many parts of the world, with Apple benefitting from that.

“This quarter saw a growing sense of optimism for consumers in the United States and around the world, driving renewed hope for a better future, and for all the innovation can make possible,” Mr Cook told a conference call.

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