Apple Reports Third Quarter Results

 

  Revenue up 36 percent to new June quarter record  

 

  Services revenue reaches new all-time high  

 

Apple® today announced financial results for its fiscal 2021 third quarter ended June 26, 2021. The Company posted a June quarter record revenue of $81.4 billion, up 36 percent year over year, and quarterly earnings per diluted share of $1.30.

 

"This quarter, our teams built on a period of unmatched innovation by sharing powerful new products with our users, at a time when using technology to connect people everywhere has never been more important," said Tim Cook, Apple's CEO. "We're continuing to press forward in our work to infuse everything we make with the values that define us — by inspiring a new generation of developers to learn to code, moving closer to our 2030 environment goal, and engaging in the urgent work of building a more equitable future."

 

"Our record June quarter operating performance included new revenue records in each of our geographic segments, double-digit growth in each of our product categories, and a new all-time high for our installed base of active devices," said Luca Maestri, Apple's CFO. "We generated $21 billion of operating cash flow, returned nearly $29 billion to our shareholders during the quarter, and continued to make significant investments across our business to support our long-term growth plans."

 

Apple's board of directors has declared a cash dividend of $0.22 per share of the Company's common stock. The dividend is payable on August 12, 2021 to shareholders of record as of the close of business on August 9, 2021.

 

Apple will provide live streaming of its Q3 2021 financial results conference call beginning at 2:00 p.m. PT on July 27, 2021 at apple.com/investor/earnings-call . This webcast will also be available for replay for approximately two weeks thereafter.

 

Apple periodically provides information for investors on its corporate website, apple.com, and its investor relations website, investor.apple.com. This includes press releases and other information about financial performance, reports filed or furnished with the SEC, information on corporate governance, and details related to its annual meeting of shareholders.

 

This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include without limitation those about the Company's plans for the payment of its quarterly dividend. These statements involve risks and uncertainties, and actual results may differ materially from any future results expressed or implied by the forward-looking statements. Risks and uncertainties include without limitation: the effect of the COVID-19 pandemic on the Company's business, results of operations, financial condition, and stock price; the effect of global and regional economic conditions on the Company's business, including effects on purchasing decisions by consumers and businesses; the ability of the Company to compete in markets that are highly competitive and subject to rapid technological change; the ability of the Company to manage frequent introductions and transitions of products and services, including delivering to the marketplace, and stimulating customer demand for, new products, services, and technological innovations on a timely basis; the effect that shifts in the mix of products and services and in the geographic, currency, or channel mix, component cost increases, increases in the cost of acquiring and delivering content for the Company's services, price competition, or the introduction of new products or services, including new products or services with higher cost structures, could have on the Company's gross margin; the dependency of the Company on the performance of distributors of the Company's products, including cellular network carriers and other resellers; the risk of write-downs on the value of inventory and other assets and purchase commitment cancellation risk; the continued availability on acceptable terms, or at all, of certain components, services, and new technologies essential to the Company's business, including components and technologies that may only be available from single or limited sources; the dependency of the Company on manufacturing and logistics services provided by third parties, many of which are located outside of the US and which may affect the quality, quantity, or cost of products manufactured or services rendered to the Company; the effect of product and services design and manufacturing defects on the Company's financial performance and reputation; the dependency of the Company on third-party intellectual property and digital content, which may not be available to the Company on commercially reasonable terms or at all; the dependency of the Company on support from third-party software developers to develop and maintain software applications and services for the Company's products; the impact of unfavorable legal proceedings or government investigations; the impact of complex and changing laws and regulations worldwide, which expose the Company to potential liabilities, increased costs, and other adverse effects on the Company's business; the ability of the Company to manage risks associated with the Company's retail stores; the ability of the Company to manage risks associated with the Company's investments in new business strategies and acquisitions; the impact on the Company's business and reputation from information technology system failures, network disruptions, or losses or unauthorized access to, or release of, confidential information; the ability of the Company to comply with laws and regulations regarding data protection; the continued service and availability of key executives and employees; political events, international trade disputes, war, terrorism, natural disasters, public health issues, and other business interruptions that could disrupt supply or delivery of, or demand for, the Company's products; financial risks, including risks relating to currency fluctuations, credit risks, and fluctuations in the market value of the Company's investment portfolio; and changes in tax rates and exposure to additional tax liabilities. More information on these risks and other potential factors that could affect the Company's business and financial results is included in the Company's filings with the SEC, including in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

 

Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch, and Apple TV. Apple's five software platforms — iOS, iPadOS, macOS, watchOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, and iCloud. Apple's more than 100,000 employees are dedicated to making the best products on earth, and to leaving the world better than we found it.

 

NOTE TO EDITORS: For additional information visit Apple Newsroom ( www.apple.com/newsroom ), or call Apple's Media Helpline at (408) 974-2042.

 

© 2021 Apple Inc. All rights reserved. Apple and the Apple logo are trademarks of Apple. Other company and product names may be trademarks of their respective owners.

 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
 

  Apple Inc.  

 
 

  CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)  

 
 

(In millions, except number of shares which are reflected in thousands and per share amounts)

 
 
 

 

 
 

  Three Months Ended  

 
 

 

 
 

  Nine Months Ended  

 
 

 

 
 

  June 26,  
2021  

 
 

 

 
 

  June 27,  
2020  

 
 

 

 
 

  June 26,  
2021  

 
 

 

 
 

  June 27,  
2020  

 
 

Net sales:

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Products

 
 

$

 
 

63,948

 
 

 

 
 

 

 
 

$

 
 

46,529

 
 

 

 
 

 

 
 

$

 
 

232,309

 
 

 

 
 

 

 
 

$

 
 

170,598

 
 

 

 
 

Services

 
 

17,486

 
 

 

 
 

 

 
 

13,156

 
 

 

 
 

 

 
 

50,148

 
 

 

 
 

 

 
 

39,219

 
 

 

 
 

Total net sales (1)

 
 

81,434

 
 

 

 
 

 

 
 

59,685

 
 

 

 
 

 

 
 

282,457

 
 

 

 
 

 

 
 

209,817

 
 

 

 
 

Cost of sales:

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Products

 
 

40,899

 
 

 

 
 

 

 
 

32,693

 
 

 

 
 

 

 
 

149,476

 
 

 

 
 

 

 
 

116,089

 
 

 

 
 

Services

 
 

5,280

 
 

 

 
 

 

 
 

4,312

 
 

 

 
 

 

 
 

15,319

 
 

 

 
 

 

 
 

13,461

 
 

 

 
 

Total cost of sales

 
 

46,179

 
 

 

 
 

 

 
 

37,005

 
 

 

 
 

 

 
 

164,795

 
 

 

 
 

 

 
 

129,550

 
 

 

 
 

Gross margin

 
 

35,255

 
 

 

 
 

 

 
 

22,680

 
 

 

 
 

 

 
 

117,662

 
 

 

 
 

 

 
 

80,267

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Operating expenses:

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Research and development

 
 

5,717

 
 

 

 
 

 

 
 

4,758

 
 

 

 
 

 

 
 

16,142

 
 

 

 
 

 

 
 

13,774

 
 

 

 
 

Selling, general and administrative

 
 

5,412

 
 

 

 
 

 

 
 

4,831

 
 

 

 
 

 

 
 

16,357

 
 

 

 
 

 

 
 

14,980

 
 

 

 
 

Total operating expenses

 
 

11,129

 
 

 

 
 

 

 
 

9,589

 
 

 

 
 

 

 
 

32,499

 
 

 

 
 

 

 
 

28,754

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Operating income

 
 

24,126

 
 

 

 
 

 

 
 

13,091

 
 

 

 
 

 

 
 

85,163

 
 

 

 
 

 

 
 

51,513

 
 

 

 
 

Other income/(expense), net

 
 

243

 
 

 

 
 

 

 
 

46

 
 

 

 
 

 

 
 

796

 
 

 

 
 

 

 
 

677

 
 

 

 
 

Income before provision for income taxes

 
 

24,369

 
 

 

 
 

 

 
 

13,137

 
 

 

 
 

 

 
 

85,959

 
 

 

 
 

 

 
 

52,190

 
 

 

 
 

Provision for income taxes

 
 

2,625

 
 

 

 
 

 

 
 

1,884

 
 

 

 
 

 

 
 

11,830

 
 

 

 
 

 

 
 

7,452

 
 

 

 
 

Net income

 
 

$

 
 

21,744

 
 

 

 
 

 

 
 

$

 
 

11,253

 
 

 

 
 

 

 
 

$

 
 

74,129

 
 

 

 
 

 

 
 

$

 
 

44,738

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Earnings per share:

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Basic

 
 

$

 
 

1.31

 
 

 

 
 

 

 
 

$

 
 

0.65

 
 

 

 
 

 

 
 

$

 
 

4.42

 
 

 

 
 

 

 
 

$

 
 

2.56

 
 

 

 
 

Diluted

 
 

$

 
 

1.30

 
 

 

 
 

 

 
 

$

 
 

0.65

 
 

 

 
 

 

 
 

$

 
 

4.38

 
 

 

 
 

 

 
 

$

 
 

2.54

 
 

 

 
 

Shares used in computing earnings per share:

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Basic

 
 

16,629,371

 
 

 

 
 

 

 
 

17,250,291

 
 

 

 
 

 

 
 

16,772,656

 
 

 

 
 

 

 
 

17,450,284

 
 

 

 
 

Diluted

 
 

16,781,735

 
 

 

 
 

 

 
 

17,419,154

 
 

 

 
 

 

 
 

16,941,527

 
 

 

 
 

 

 
 

17,618,778

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

  (1) Net sales by reportable segment:

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Americas

 
 

$

 
 

35,870

 
 

 

 
 

 

 
 

$

 
 

27,018

 
 

 

 
 

 

 
 

$

 
 

116,486

 
 

 

 
 

 

 
 

$

 
 

93,858

 
 

 

 
 

Europe

 
 

18,943

 
 

 

 
 

 

 
 

14,173

 
 

 

 
 

 

 
 

68,513

 
 

 

 
 

 

 
 

51,740

 
 

 

 
 

Greater China

 
 

14,762

 
 

 

 
 

 

 
 

9,329

 
 

 

 
 

 

 
 

53,803

 
 

 

 
 

 

 
 

32,362

 
 

 

 
 

Japan

 
 

6,464

 
 

 

 
 

 

 
 

4,966

 
 

 

 
 

 

 
 

22,491

 
 

 

 
 

 

 
 

16,395

 
 

 

 
 

Rest of Asia Pacific

 
 

5,395

 
 

 

 
 

 

 
 

4,199

 
 

 

 
 

 

 
 

21,164

 
 

 

 
 

 

 
 

15,462

 
 

 

 
 

Total net sales

 
 

$

 
 

81,434

 
 

 

 
 

 

 
 

$

 
 

59,685

 
 

 

 
 

 

 
 

$

 
 

282,457

 
 

 

 
 

 

 
 

$

 
 

209,817

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

  (1) Net sales by category:

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

iPhone

 
 

$

 
 

39,570

 
 

 

 
 

 

 
 

$

 
 

26,418

 
 

 

 
 

 

 
 

$

 
 

153,105

 
 

 

 
 

 

 
 

$

 
 

111,337

 
 

 

 
 

Mac

 
 

8,235

 
 

 

 
 

 

 
 

7,079

 
 

 

 
 

 

 
 

26,012

 
 

 

 
 

 

 
 

19,590

 
 

 

 
 

iPad

 
 

7,368

 
 

 

 
 

 

 
 

6,582

 
 

 

 
 

 

 
 

23,610

 
 

 

 
 

 

 
 

16,927

 
 

 

 
 

Wearables, Home and Accessories

 
 

8,775

 
 

 

 
 

 

 
 

6,450

 
 

 

 
 

 

 
 

29,582

 
 

 

 
 

 

 
 

22,744

 
 

 

 
 

Services

 
 

17,486

 
 

 

 
 

 

 
 

13,156

 
 

 

 
 

 

 
 

50,148

 
 

 

 
 

 

 
 

39,219

 
 

 

 
 

Total net sales

 
 

$

 
 

81,434

 
 

 

 
 

 

 
 

$

 
 

59,685

 
 

 

 
 

 

 
 

$

 
 

282,457

 
 

 

 
 

 

 
 

$

 
 

209,817

 
 

 

 
 
                                                                                                                                                                                                                                   
 

  Apple Inc.  

 
 

  CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)  

 
 

(In millions, except number of shares which are reflected in thousands and par value)

 
 
 

 

 
 

  June 26,  
2021  

 
 

 

 
 

  September 26,  
2020  

 
 

  ASSETS:  

 
 

Current assets:

 
 

 

 
 

 

 
 

 

 
 

Cash and cash equivalents

 
 

$

 
 

34,050

 
 

 

 
 

 

 
 

$

 
 

38,016

 
 

 

 
 

Marketable securities

 
 

27,646

 
 

 

 
 

 

 
 

52,927

 
 

 

 
 

Accounts receivable, net

 
 

17,475

 
 

 

 
 

 

 
 

16,120

 
 

 

 
 

Inventories

 
 

5,178

 
 

 

 
 

 

 
 

4,061

 
 

 

 
 

Vendor non-trade receivables

 
 

16,433

 
 

 

 
 

 

 
 

21,325

 
 

 

 
 

Other current assets

 
 

13,641

 
 

 

 
 

 

 
 

11,264

 
 

 

 
 

Total current assets

 
 

114,423

 
 

 

 
 

 

 
 

143,713

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Non-current assets:

 
 

 

 
 

 

 
 

 

 
 

Marketable securities

 
 

131,948

 
 

 

 
 

 

 
 

100,887

 
 

 

 
 

Property, plant and equipment, net

 
 

38,615

 
 

 

 
 

 

 
 

36,766

 
 

 

 
 

Other non-current assets

 
 

44,854

 
 

 

 
 

 

 
 

42,522

 
 

 

 
 

Total non-current assets

 
 

215,417

 
 

 

 
 

 

 
 

180,175

 
 

 

 
 

Total assets

 
 

$

 
 

329,840

 
 

 

 
 

 

 
 

$

 
 

323,888

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

  LIABILITIES AND SHAREHOLDERS' EQUITY:  

 
 

Current liabilities:

 
 

 

 
 

 

 
 

 

 
 

Accounts payable

 
 

$

 
 

40,409

 
 

 

 
 

 

 
 

$

 
 

42,296

 
 

 

 
 

Other current liabilities

 
 

43,625

 
 

 

 
 

 

 
 

42,684

 
 

 

 
 

Deferred revenue

 
 

7,681

 
 

 

 
 

 

 
 

6,643

 
 

 

 
 

Commercial paper

 
 

8,000

 
 

 

 
 

 

 
 

4,996

 
 

 

 
 

Term debt

 
 

8,039

 
 

 

 
 

 

 
 

8,773

 
 

 

 
 

Total current liabilities

 
 

107,754

 
 

 

 
 

 

 
 

105,392

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Non-current liabilities:

 
 

 

 
 

 

 
 

 

 
 

Term debt

 
 

105,752

 
 

 

 
 

 

 
 

98,667

 
 

 

 
 

Other non-current liabilities

 
 

52,054

 
 

 

 
 

 

 
 

54,490

 
 

 

 
 

Total non-current liabilities

 
 

157,806

 
 

 

 
 

 

 
 

153,157

 
 

 

 
 

Total liabilities

 
 

265,560

 
 

 

 
 

 

 
 

258,549

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Commitments and contingencies

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

 

 
 

Shareholders' equity:

 
 

 

 
 

 

 
 

 

 
 

Common stock and additional paid-in capital, $0.00001 par value: 50,400,000 shares authorized; 16,556,942 and 16,976,763 shares issued and outstanding, respectively

 
 

54,989

 
 

 

 
 

 

 
 

50,779

 
 

 

 
 

Retained earnings

 
 

9,233

 
 

 

 
 

 

 
 

14,966

 
 

 

 
 

Accumulated other comprehensive income/(loss)

 
 

58

 
 

 

 
 

 

 
 

(406)

 
 

 

 
 

Total shareholders' equity

 
 

64,280

 
 

 

 
 

 

 
 

65,339

 
 

 

 
 

Total liabilities and shareholders' equity

 
 

$

 
 

329,840

 
 

 

 
 

 

 
 

$

 
 

323,888

 
 

 

 
 
                                                                                                                                                                                                                                                           
 

  Apple Inc.  

 
 

  CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)  

 
 

(In millions)

 
 

 

 
 

  Nine Months Ended  

 
 

 

 
 

  June 26,  
2021  

 
 

 

 
 

  June 27,  
2020  

 
 

Cash, cash equivalents and restricted cash, beginning balances

 
 

$

 
 

39,789

 
 

 

 
 

 

 
 

$

 
 

50,224

 
 

 

 
 

Operating activities:

 
 

 

 
 

 

 
 

 

 
 

Net income

 
 

74,129

 
 

 

 
 

 

 
 

44,738

 
 

 

 
 

Adjustments to reconcile net income to cash generated by operating activities:

 
 

 

 
 

 

 
 

 

 
 

Depreciation and amortization

 
 

8,295

 
 

 

 
 

 

 
 

8,354

 
 

 

 
 

Share-based compensation expense

 
 

5,961

 
 

 

 
 

 

 
 

5,105

 
 

 

 
 

Deferred income tax expense/(benefit)

 
 

(737)

 
 

 

 
 

 

 
 

182

 
 

 

 
 

Other

 
 

(689)

 
 

 

 
 

 

 
 

(94)

 
 

 

 
 

Changes in operating assets and liabilities:

 
 

 

 
 

 

 
 

 

 
 

Accounts receivable, net

 
 

(1,316)

 
 

 

 
 

 

 
 

5,149

 
 

 

 
 

Inventories

 
 

(1,213)

 
 

 

 
 

 

 
 

10

 
 

 

 
 

Vendor non-trade receivables

 
 

4,892

 
 

 

 
 

 

 
 

8,685

 
 

 

 
 

Other current and non-current assets

 
 

(5,899)

 
 

 

 
 

 

 
 

(6,760)

 
 

 

 
 

Accounts payable

 
 

(1,786)

 
 

 

 
 

 

 
 

(10,787)

 
 

 

 
 

Deferred revenue

 
 

1,738

 
 

 

 
 

 

 
 

1,649

 
 

 

 
 

Other current and non-current liabilities

 
 

463

 
 

 

 
 

 

 
 

3,867

 
 

 

 
 

Cash generated by operating activities

 
 

83,838

 
 

 

 
 

 

 
 

60,098

 
 

 

 
 

Investing activities:

 
 

 

 
 

 

 
 

 

 
 

Purchases of marketable securities

 
 

(94,052)

 
 

 

 
 

 

 
 

(96,606)

 
 

 

 
 

Proceeds from maturities of marketable securities

 
 

49,880

 
 

 

 
 

 

 
 

54,865

 
 

 

 
 

Proceeds from sales of marketable securities

 
 

36,745

 
 

 

 
 

 

 
 

39,760

 
 

 

 
 

Payments for acquisition of property, plant and equipment

 
 

(7,862)

 
 

 

 
 

 

 
 

(5,525)

 
 

 

 
 

Payments made in connection with business acquisitions, net

 
 

(13)

 
 

 

 
 

 

 
 

(1,473)

 
 

 

 
 

Other

 
 

(78)

 
 

 

 
 

 

 
 

(841)

 
 

 

 
 

Cash used in investing activities

 
 

(15,380)

 
 

 

 
 

 

 
 

(9,820)

 
 

 

 
 

Financing activities:

 
 

 

 
 

 

 
 

 

 
 

Proceeds from issuance of common stock

 
 

561

 
 

 

 
 

 

 
 

430

 
 

 

 
 

Payments for taxes related to net share settlement of equity awards

 
 

(5,855)

 
 

 

 
 

 

 
 

(3,234)

 
 

 

 
 

Payments for dividends and dividend equivalents

 
 

(10,827)

 
 

 

 
 

 

 
 

(10,570)

 
 

 

 
 

Repurchases of common stock

 
 

(66,223)

 
 

 

 
 

 

 
 

(55,171)

 
 

 

 
 

Proceeds from issuance of term debt, net

 
 

13,923

 
 

 

 
 

 

 
 

10,635

 
 

 

 
 

Repayments of term debt

 
 

(7,500)

 
 

 

 
 

 

 
 

(12,629)

 
 

 

 
 

Proceeds from commercial paper, net

 
 

3,022

 
 

 

 
 

 

 
 

31

 
 

 

 
 

Proceeds from repurchase agreements

 
 

 
 

 

 
 

 

 
 

5,165

 
 

 

 
 

Other

 
 

(72)

 
 

 

 
 

 

 
 

(120)

 
 

 

 
 

Cash used in financing activities

 
 

(72,971)

 
 

 

 
 

 

 
 

(65,463)

 
 

 

 
 

Decrease in cash, cash equivalents and restricted cash

 
 

(4,513)

 
 

 

 
 

 

 
 

(15,185)

 
 

 

 
 

Cash, cash equivalents and restricted cash, ending balances

 
 

$

 
 

35,276

 
 

 

 
 

 

 
 

$

 
 

35,039

 
 

 

 
 

Supplemental cash flow disclosure:

 
 

 

 
 

 

 
 

 

 
 

Cash paid for income taxes, net

 
 

$

 
 

18,536

 
 

 

 
 

 

 
 

$

 
 

8,410

 
 

 

 
 

Cash paid for interest

 
 

$

 
 

1,870

 
 

 

 
 

 

 
 

$

 
 

2,275

 
 

 

 
 

 

 

  

  

  Press Contact:  
Josh Rosenstock
Apple
jrosenstock@apple.com  
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Apple
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How to Invest in Mobile Apps (Updated 2024)

The ubiquity of mobile devices and their prominence in everyday life has led to the development of mobile apps for everything from gaming and dating to banking and stock trading.

Mobile apps began rising to prominence in 2007 with the launch of the iPhone, which heralded a new era in connectivity brought about by revolutionary touch technology. The field has grown widely from thereon out, and the diversity of today’s offerings makes investing in mobile apps an appealing prospect.

With about 2.87 million apps in Google’s (NASDAQ: GOOGL) Google Play Store and around 1.96 million apps available in Apple’s (NASDAQ:AAPL) App Store, there is no shortage of app choices for mobile devices.

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Social Media Stocks: 5 Biggest Companies

The world’s largest social media platforms have revolutionized the way people connect on the internet, and the companies behind these platforms can offer major investment opportunities.

This year's strong rally in technology stocks, led by Meta Platforms (NASDAQ:FB), is a clear example of the huge presence social media companies have in the stock market. In late April, shares of the social media giant jumped 14.6 percent on higher-than-expected earnings. The news came alongside increasing investor confidence in the broader tech industry.

“Meta earnings show the company’s commitment to cost discipline while driving accelerating N-T revenue growth and also continuing to invest in longer-term transformational technologies like artificial intelligence (AI) and the metaverse,” said Doug Anmuth, an analyst at JPMorgan Chase (NYSE:JPM).

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BlackBerry Extends Partnership with Leading Managed Security Services Provider  to Ensure SMBs are Set Up for Cyber Success

BlackBerry Extends Partnership with Leading Managed Security Services Provider to Ensure SMBs are Set Up for Cyber Success

 
 

BlackBerry Limited (NYSE: BB; TSX: BB) and Solutions Granted today announced an extended partnership, naming the leading cybersecurity services provider a Master Managed Security Services Provider (MSSP), enabling it to better scale and meet the growing demand for cybersecurity services among small and medium-sized businesses (SMBs).

 
 

  BlackBerry Logo Black (PRNewsfoto/Blackberry Limited) 

 

"Solutions Granted has been honored as BlackBerry MSSP Partner of the Year for North America for five consecutive years and we're excited to take our partnership to the next level by crowning them as our top Master MSSP," said Adam Enterkin , Chief Revenue Officer, Americas, BlackBerry Cybersecurity. "BlackBerry is dedicated to increasing its focus on MSSP partners to ensure they're set up for success. Endpoints are proliferating, and so are the cyberattacks against them. Our extended partnership with Solutions Granted will help hundreds of small and mid-size businesses continuously adapt to an ever-changing threat landscape."

 

As a 'Master MSSP', Solutions Granted will be better positioned to help its own partners to deliver Managed Detection and Response (MDR) and other Managed Security Services to their mid-market and SMB clients.  In partnership with BlackBerry and heavily leveraging the Cylance® AI-powered portfolio, Solutions Granted helps thousands of clients secure their environments and prevent attacks. By working with Solutions Granted, MSSPs and managed service providers (MSPs) can offer industry leading managed security, without making the significant investment of building out their own security operations center (SOC).

 

  CylanceENDPOINT™ is among the solutions it helps managed service providers (MSPs) deploy to clients, either as individual managed services or integrated into a SOC-as-a-service offering.

 

"BlackBerry's support for our business model provides the flexibility we need to continue to meet customer demand and provide the best possible product support for their business needs," said Michael E. Crean , Chief Executive Officer, Solutions Granted. "We value the investment BlackBerry is making in our partnership and know this will go a long way in setting up our customers for success."

 

To learn more about BlackBerry MSSP Partners, visit blackberry.com/us/en/partners/mssp-partners .

 

  About BlackBerry  

 

 BlackBerry (NYSE: BB; TSX: BB) provides intelligent security software and services to enterprises and governments around the world.  The company secures more than 500M endpoints including over 215M vehicles.  Based in Waterloo, Ontario , the company leverages AI and machine learning to deliver innovative solutions in the areas of cybersecurity, safety and data privacy solutions, and is a leader in the areas of endpoint management, endpoint security, encryption, and embedded systems.  BlackBerry's vision is clear - to secure a connected future you can trust.

 

 BlackBerry. Intelligent Security. Everywhere.

 

For more information, visit BlackBerry.com and follow @BlackBerry.

 

  Trademarks, including but not limited to BlackBerry and EMBLEM Design are the trademarks or registered trademarks of BlackBerry Limited, and the exclusive rights to such trademarks are expressly reserved.  All other trademarks are the property of their respective owners.  BlackBerry is not responsible for any third-party products or services.  

 

  About Solutions Granted Inc.  

 

Solutions Granted is a Master Managed Security Services Provider (Master MSSP). They offer cybersecurity solutions to North American MSPs and MSSPs and are committed to delivering solutions without requiring minimums, commitments, or long-term contracts. They proudly offer many security layers as well as a 24x7 U.S.-based Security Operations Center (SOC). Over the past several years, Solutions Granted has emerged as a clear leader in the channel, by winning countless awards including the CRN Security 100 list, Top 100 MSSP List, Top Global MSSP List, and BlackBerry MSSP Partner of the Year. Learn more at https://www.SolutionsGranted.com  

 

  Media Contacts:  

 

 BlackBerry Media Relations

 

+1 (519) 597-7273

 

  mediarelations@BlackBerry.com  

 
 
 

 Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/blackberry-extends-partnership-with-leading-managed-security-services-provider-mssp-to-ensure-smbs-are-set-up-for-cyber-success-301803800.html  

 

SOURCE BlackBerry Limited

 
 

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BlackBerry's Quarterly Threat Intelligence Report Finds Banks, Healthcare Providers and Food Retailers are Top Targets for Cybercrime

BlackBerry's Quarterly Threat Intelligence Report Finds Banks, Healthcare Providers and Food Retailers are Top Targets for Cybercrime

 
 

   Geopolitical unrest positions key industries as targets for state-sponsored actors and financially motivated attacks   

 

BlackBerry Limited (NYSE: BB; TSX: BB) today released its latest Quarterly Global Threat Intelligence Report highlighting an increase in cyberattacks directed at financial institutions, food retailers and healthcare providers, with 60 percent of all attacks targeting these three key industries.

 

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Mobile Investing in Australia

After lagging behind for a prolonged period, Australia's tech sector is ramping up at an accelerated pace. The tech sector is now equivalent to 8.5 percent of the country's GDP as of the end of 2021, an increase of 26 percent since the onset of COVID-19 through June 2021 and a massive 79 percent increase over the past five years. Tech contributes AU$167 billion to the Australian economy, trailing only the mining (AU$205 billion) and financial/insurance (AU$169 billion) sectors.

Australia's characteristically resilient economy — which had not experienced a recession in nearly 30 years prior to COVID-19 lockdowns — has provided a sturdy backdrop for its growing tech sector. The growth in the tech sector’s contribution to the GDP has outpaced average growth of other industries by more than 400 percent, a gain partly attributable to accelerated digital technology adoption during the pandemic.

This dramatic expansion is largely in response to Australia's need to catch up to the rest of the world and assert itself in the global tech marketplace. Should the tech sector continue to grow at its current rate it will eventually surpass the relative GDP contribution of the long dominant mining sector. This will also complete the process of bringing Australia more in line with other western economies such as the UK, and notably Canada, which is comparable to Australia in terms of its dominant mining and agricultural industries.

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DGTL Holdings Completes Acquisition of Engagement Labs

DGTL Holdings Completes Acquisition of Engagement Labs

DGTL Holdings Inc. (TSXV: DGTL) (OTCQB: DGTHF) (WKN: A2QB0L) (FSE: D0G) ("DGTL Holdings") and Engagement Labs Inc. (TSXV: EL) ("Engagement Labs") are pleased to announce that DGTL has completed its previously announced acquisition of Engagement Labs by way of a plan of arrangement (the "Arrangement").

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