Following along with its yearly routine, Apple today announced it latest quarterly earnings.
Apple has officially announced its third quarter results of 2018. These follow the strong results from the second quarter, and see millions more iPhones, iPads, and Macs sold to the masses. Here’s how it all breaks down:
Apple sold 41.3 million iPhones in the third fiscal quarter of this year, along with 11.5 million iPads. Meanwhile, Apple also sold 3.7 million Macs in the same stretch of time.
In total, the company earned $53.3 billion in total revenue in the quarter, and $11.5 billion in total profit.
“Apple today announced financial results for its fiscal 2018 third quarter ended June 30, 2018. The Company posted quarterly revenue of $53.3 billion, an increase of 17 percent from the year-ago quarter, and quarterly earnings per diluted share of $2.34, up 40 percent. International sales accounted for 60 percent of the quarter’s revenue.”
As is par for the course, Apple’s CEO, Tim Cook, praised the strong quarter:
“We’re thrilled to report Apple’s best June quarter ever, and our fourth consecutive quarter of double-digit revenue growth,” said Tim Cook, Apple’s CEO. “Our Q3 results were driven by continued strong sales of iPhone, Services and Wearables, and we are very excited about the products and services in our pipeline.”
Apple’s Chief Financial Officer, Luca Maestri, also chimed in:
“Our strong business performance drove revenue growth in each of our geographic segments, net income of $11.5 billion, and operating cash flow of $14.5 billion,” said Luca Maestri, Apple’s CFO. “We returned almost $25 billion to investors through our capital return program during the quarter, including $20 billion in share repurchases.”
To compare year-over-year, Apple earned $45.4 billion in revenue, on the backs of 41 million iPhones, 11.4 million iPads, and 4.29 million Macs sold in the third quarter of 2017.
Finally, Apple is providing the following guidance for its fiscal 2018 fourth quarter:
- revenue between $60 billion and $62 billion
- gross margin between 38 percent and 38.5 percent
- operating expenses between $7.95 billion and $8.05 billion
- other income/(expense) of $300 million
- tax rate of approximately 15 percent before discrete items