What you need to know
- The Mac set a new June quarter revenue record of $8.2 billion.
- The last four quarters of the Mac have been its best ever.
The Mac and iPad are now a Fortune 50 business.
The Mac, powered by the M1 processor, is setting new revenue records for Apple.
During the company's Q3 earnings call, Apple CFO Luca Maestri announced that the Mac set a June quarter revenue record of $8.2 billion. Maestri noted that the last four quarters have all been the best the company has ever seen for the Mac due to the launch of a slew of new Macs powered by the new M1 processor.
The CFO also noted that the Mac and iPad business, when combined, is now the size of a Fortune 50 company.
For Mac, despite supply constraints, we said a June quarter record of 8.2 billion, up 16 percent over last year, with June quarter revenue records in most markets we track around the world. It is remarkable that the last four quarters for Mac have been its best four quarters ever. This exceptional level of sales success has been driven by the very enthusiastic customer response to our new Macs, powered by the M1 chip, which we most recently brought to our newly redesigned iMac.
iPad performance was also strong, with revenue of 7.4 billion, up 12 percent in spite of significant supply constraints. During the quarter, we also started shipping our new iPad Pro powered by the M1 chip and customer response has been outstanding. Both iPad and Mac have taken computing to the next level, and when you combine their performance over the last 12 months, they're now the size of a Fortune 50 business. Thanks to the best product line ups we've ever had, very high levels of customer satisfaction and a loyal growing install base.
Maestri went on to reveal that half of the customers who purchased a Mac or iPad during the June quarter were completely new to the product.
In fact, around half of the customers purchasing Mac and iPad during the quarter were new to that product. And in most recent surveys of US consumers from 451 Research, customer satisfaction was 92 percent for Mac and 95 percent for iPad. In enterprise, our customers are excited about the superior performance, battery life, and security that that the new M1 Macs bring. MassMutual, for example, is offering M1 MacBook Pro to all of its employees and equipping all conference rooms with M1 Mac minis in preparation for return to work.
Apple CEO Tim Cook also noted that the iPad, with revenue performance of $7.4 billion, had its best June quarter in nearly a decade.
Users continue to rely on iPad and Mac to work, learn, create, and connect. iPad had its highest June quarter in nearly a decade, while Mac set an all time June quarter record. We've seen a great response to the new iMac and iPad Pro, both powered by the M1 chip's exceptional speed and power efficient performance.
Earlier today, Apple hosted its Q3 earnings call, announcing a June quarter revenue record of $81.4 billion with an increase of nearly $22 billion or 36 percent from a just year ago. If you want to learn more about what was said during the earnings call, check out the call transcript.
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