Apple reports earnings of $6.9 billion on sales of 31.2M iPhones, 14.6M iPads, 3.8M Macs
Apple said Tuesday that third-quarter profits fell roughly 20 percent to $6.9 billion, or $7.47 per diluted share, on relatively flat revenues of $35.4 billion for the three-month period ended June 29th, 2013.
The results compare to revenue of $35 billion and net profit of $8.8 billion, or $9.32 per diluted share, in the year-ago quarter. Gross margin was 36.9 percent compared to 42.8 percent in the year-ago quarter, while international sales accounted for 57 percent of the quarter's revenue.
Apple sold 31.2 million iPhones, a record for the June quarter, compared to 26 million in the year-ago quarter. The Cupertino-based company also sold 14.6 million iPads during the quarter, compared to 17 million in the year-ago quarter. Mac sales came in at 3.8 million units, down 200,000 units from the 4 million reported for the same quarter last year, while iPod sales continued their inevitable decline, falling 32% to just 4.5 million units.
"We are especially proud of our record June quarter iPhone sales of over 31 million and the strong growth in revenue from iTunes, Software and Services," said Apple chief executive Tim Cook. "We are really excited about the upcoming releases of iOS 7 and OS X Mavericks, and we are laser-focused and working hard on some amazing new products that we will introduce in the fall and across 2014."
Apple's Board of Directors has declared a cash dividend of $3.05 per share of the company's common stock. The dividend is payable on August 15, 2013, to shareholders of record as of the close of business on August 12, 2013.
"We generated $7.8 billion in cash flow from operations during the quarter and are pleased to have returned $18.8 billion in cash to shareholders through dividends and share repurchases," said Apple Chief Financial Operator Peter Oppenheimer.
As part of the report, Apple said it's also providing the following guidance for its fiscal 2013 fourth quarter:
The results compare to revenue of $35 billion and net profit of $8.8 billion, or $9.32 per diluted share, in the year-ago quarter. Gross margin was 36.9 percent compared to 42.8 percent in the year-ago quarter, while international sales accounted for 57 percent of the quarter's revenue.
Apple sold 31.2 million iPhones, a record for the June quarter, compared to 26 million in the year-ago quarter. The Cupertino-based company also sold 14.6 million iPads during the quarter, compared to 17 million in the year-ago quarter. Mac sales came in at 3.8 million units, down 200,000 units from the 4 million reported for the same quarter last year, while iPod sales continued their inevitable decline, falling 32% to just 4.5 million units.
"We are especially proud of our record June quarter iPhone sales of over 31 million and the strong growth in revenue from iTunes, Software and Services," said Apple chief executive Tim Cook. "We are really excited about the upcoming releases of iOS 7 and OS X Mavericks, and we are laser-focused and working hard on some amazing new products that we will introduce in the fall and across 2014."
Apple's Board of Directors has declared a cash dividend of $3.05 per share of the company's common stock. The dividend is payable on August 15, 2013, to shareholders of record as of the close of business on August 12, 2013.
"We generated $7.8 billion in cash flow from operations during the quarter and are pleased to have returned $18.8 billion in cash to shareholders through dividends and share repurchases," said Apple Chief Financial Operator Peter Oppenheimer.
As part of the report, Apple said it's also providing the following guidance for its fiscal 2013 fourth quarter:
- revenue between $34 billion and $37 billion
- gross margin between 36 percent and 37 percent
- operating expenses between $3.9 billion and $3.95 billion
- other income/(expense) of $200 million
- tax rate of 26.5%
Comments
Turns out the Verizon numbers were indicative of a good iPhone quarter after all. Surprising that analysts were way off on iPad sales.
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Originally Posted by Jetz
Good for Apple. Not so much for AAPL.
Why?
Quote:
Originally Posted by AdonisSMU
Wow Apple dropped. That's not good.
Really?
If you want to assign blame for what Apple is doing then look no further than Congress. THEY, not Apple, write the oppressive tax laws & loopholes that companies exploit and people like you bitch at Apple et al for taking advantage of.
Begone troll
Quote:
Originally Posted by Jetz
Good for Apple. Not so much for AAPL.
The stock is up 4.5% after-hours, when I checked a couple of minutes ago.
Not a good quarter at all... It's because it's an off year for contract users and those who had the option to trade in a new phone probably didn't upgrade to the 5.
They could start charging for iOS 7 updates but for a phone worth 300 to make and sell at 680... good luck finding carriers and users.
Considering the ASP for an iPhone is pretty similar to an iPad, isn't being plus on one and down on the other sort of a wash?
Looks like EPS came in a tad higher. Overall, estimates looked pretty accurate.
Quote:
Originally Posted by tomdri
And they pay very little taxes. Bravo Apple for fucking America! How many billions did you screw the American people?
Go away! Scat!
Quote:
Originally Posted by tomdri
And they pay very little taxes. Bravo Apple for fucking America! How many billions did you screw the American people?
12%
Do you know what that number represents? Or are you too damned afraid to even try to answer?
Quote:
Originally Posted by AdonisSMU
Wow Apple dropped. That's not good.
Huh? Stock is up. : After Hours: 439.60 +20.61 (4.92%)
iPad number and Q4 revenue outlook looks a little light, but all in all good news everywhere else.
Quote:
Originally Posted by tomdri
And they pay very little taxes. Bravo Apple for fucking America! How many billions did you screw the American people?
They are the biggest tax payer in the US. They pay US taxes on all US profits. How is that screwing the American people? Or do you think they should pay taxes in the US on products made in China, sold in China by Chinese employees to Chinese customers?
Quote:
Originally Posted by darkdefender
Not a good quarter at all...
What are you talking about!? Apple met/beat expectations. The stock is up substantially after-hours.
The only slight miss -- if that -- was that iPad numbers were down by 2.4M. But given that a new one is coming in the next couple of months for the same price and people are waiting, the fact that they sold so many is actually good news.
Quote:
Originally Posted by AdonisSMU
Wow Apple dropped. That's not good.
I think you were watching the pre-report daily trading numbers. You need to keep your finger on the pulse and check the post-report, after hours numbers. Up almost 5%.
Quote:
Originally Posted by tomdri
And they pay very little taxes. Bravo Apple for fucking America! How many billions did you screw the American people?
They screw european people, so shut up.
I wonder if their estimate for gross margins in Q4 is any indication of a possible iPhone Lite?