Apple Published $3.74 billion In Revenue From Its Wearables And Home Products

$3.74 billion in revenue has been reported by Apple, Inc from the “other products” division of the company. It includes the sales of Apple iPods, Watches, home products and much more. It surpassed the estimates of Wall Street analysts for its third quarter. The stock of the company increased by around 2 percent after hours following a strong quarter overall.

The figure is considered to be 37 percent more than the $2.74 billion in revenue that Apple reported in the year-ago quarter of the company. The third quarter of Apple ended on the 30th of June.

According to StreetAccount, the analysts from Wall Street were predicting a revenue amounting $3.67 billion. The said figure is down from the $3.9 billion that Apple reported during the previous quarter. The revenue of the division plunged by around 28 percent between its first and second quarters. At around the same time during the previous year, the revenue of the company slid by 4.8 percent between quarters.

The “other products” category of the company includes wearables, such as the Apple Watch and the AirPods, accessories, and HomePod, the smart speaker that was launched last February.

Following a troubled release, Bloomberg reported that the sales of the HomePod initially surged prior to slowing to place the smart speaker of Apple squarely behind Google an Amazon, its competitors.

On the other hand, the Apple Watch has been able to continue to retain the lead in the the wearables market. Last June, IDC, a market research group, reported that Apple was still the single largest vendor of wearable devices with a market share of 16.1 percent that rose by 13.5 percent year-over-year. During the WWDC that was held last June, Apple revealed a series of new features that are set to come to the Apple Watch, which includes podcast support, predictive features for Siri, and new exercise functions, among others.