iPad sales decline doesn’t hinder Apple’s $11bn profits

Apple has reported profits of nearly $11bn over the last quarter – up 33% year-on-year.

That’s in spite of lower iPad sales, with revenues from the device down 23 per cent year-on-year, according to MCV.

The biggest driver was the iPhone, which sold 47.5m units over the previous three months – an increase of 60 per cent when compared to the same period last year. This drove overall revenues up to $50bn.

This was the first quarter that the Apple Watch was available, having launched in April. However, the company opted not to give specific sales figures, instead including the Watch in its ‘Other’ product category, which saw revenues rise by 49 per cent year-on-year.

Meanwhile the ‘Services’ division grew by 12 per cent, thanks to the launch of Apple Music last month.

Nearly two-thirds – 64 per cent – of its revenue came from sales outside the US.