Apple's profit almost doubled, supported by the sale of iPhones

The American company Apple announced a profit growth of almost twofold in the third quarter of the 2020/2021 business year, which was largely due to the results in the sale of iPhones. At the same time, profit and sales exceeded market expectations. The company said on Wednesday that earnings in the third quarter of the 2020/2021 business year, which represents the period from April to the end of June, reached USD 21.74 billion (EUR 18.41 billion), which represents USD 1.30 per share. The previous year, Apple had earned $ 11.25 billion ($ 0.65 / share) in the third quarter. Analysts polled by Reuters expected a profit of 1.01 USD / share. Revenue increased 36 percent to $ 81.43 billion. In this case, too, the company far exceeded the expectations of analysts, who expected revenue growth to average $ 72.93 billion. The results were mainly driven by the sale of iPhones. Sales of their sales rose nearly 50 percent year-over-year to $ 39.57 billion in April-June. However, sales also increased in the area of ​​services and sales of other products. In the first case, growth reached 33 percent and in the second 40 percent. The company was particularly successful in the so-called Greater China market, which includes mainland China, Taiwan and Hong Kong. Sales in this market increased by 58 percent year on year. Sales also increased significantly in the American market, where growth reached almost 33 percent. Internet giants Apple, Microsoft and Alphabet, the mother of the Internet search engine Google, generated profits in the second quarter, which totaled more than $ 50 billion. The market value of the three companies rose to about $ 6.4 trillion, more than double the pre-coronavirus pandemic period. Alphabet's net profit nearly tripled year-over-year to $ 18.53 billion. Her daughter Google increased advertising revenue by 69 percent to $ 50.44 billion. The company benefited from the demand for advertising and online shopping, which rose sharply during the pandemic. Microsoft increased its profit by 47 percent to $ 16.5 billion in its fourth quarter. Revenues from the sale of software and cloud services contributed to this, as the pandemic forced many people to work and study from home.