Apple has reported record sales of $123.9bn (£92.6bn) for the October to December period, a rise of 11% from the previous year, despite ongoing global shortages of microchips. The results, which exceeded analyst forecasts, sent shares up more than 4% in after-hours trading.
The strong performance was driven by the iPhone 13, which launched just before the holiday quarter and generated $71.6bn in worldwide phone sales. Apple's services unit, including Apple Pay, the App Store and Apple TV+, saw revenue increase by over 23%.
However, iPad sales fell 14%, which executives attributed to supply constraints. Chief Financial Officer Luca Maestri said that while supply issues are expected to ease in the current quarter, the extent depends on demand from other companies and industries.
Demand in China rose 20%, contributing significantly to the company's growth. Apple now has over 1.8 billion active devices worldwide, giving it leverage to secure components despite pandemic-related disruptions.
Industry analysts praised Apple's supply chain management. Ryan Reith of IDC noted, 'They've navigated the supply chain better than everybody, and it's showing in the results.'
