Apple has reported over $3 billion in revenue from its sales of Apple Watches, iPods, home products, and other products, surpassing Wall Street estimates for its third quarter. Company stock rose about 2 percent after a strong third quarter. Apple has topped $10 billion in sales over the last four quarters.
“Apple watch delivered record June quarter performance with growth in the mid 40 percent range, and we are thrilled to see so many customers enjoying AirPods. It reminds me of the early days of iPod, when I started noticing white ear buds everywhere I went,” Apple CEO Tim Cook said on a call with investors.
The Apple Watch continues to dominate the wearables market, with a 16.1 percent market share reported in June — this has grown 13.5 percent year-over-year. Apple announced earlier this summer that upcoming features for the Apple Watch would include new exercise functions, podcast support, activity sharing competitions, a walkie-talkie function, and predictive features for Siri.
Mobile payment is also on the rise, with an increasing number of merchants — including eBay, 7-Eleven, and CVS — already accepting Apple Pay or planning to accept it later this year. Cook also noted that connected transport is another area in which the platform is growing, stating, “Apple Pay can be used with iPhone and Apple Watch to quickly and conveniently ride public transit in 12 metropolitan areas.”
Wearables such as the Apple Watch and AirPods are part of Apple’s “Other” sector, which makes some experts question whether they will be broken out into their own category in the future. With wearables revenue growing 60 percent year-over-year, it’s at least worth the consideration.
