Apple reports $11.5 billion profit on $53.3 billion revenue in FY Q3 2018, 41.3 million iPhones sold

Apple has reported quarterly revenue of $53.3 billion, up 17 % over last year with a net profit of $11.5 billion, up 32.1% YoY or earnings per share of $2.34, an increase of 40% over last year in their earnings for the financial year Q3 2018 that ended June 30, 2018. During earnings call Tim Cook said that the growth was  due to strong performance of iPhone, services and wearables. Apple CEO Time Cook, during earnings call said that iPhone had a very strong quarter, and revenue from iPhone was up 20% year-over-year and the active installed base grew by double-digits, driven by switchers, first time smartphone buyers and existing customer. iPhone X was the most popular iPhone in the quarter once again, with a customer satisfaction score of 98% according to 451 Research. Services sector generated all-time record revenue of $9.5 billion fueled in part by double-digit growth in the overall active installed base Apple Music grew by over 50% on a year-over-year basis Siri requests have already exceeded 100 billion so far this fiscal year Apple Pay continues to expand with well over 1 billion transactions last quarter, triple the amount from just a year ago Apple Pay is now ...