Apple posts Q3 revenue of $42.4 billion and quarterly net income of $7.8 billion

Apple held its third quarter earnings call and reported revenue of $42.4 billion and quarterly net income of $7.8 billion, or $1.42 per diluted share. These results compare to revenue of $49.6 billion and net income of $10.7 billion, or $1.85 per diluted share, in the year-ago quarter.  A 15 per cent decline. Gross margin was 38 percent compared to 39.7 percent in the year-ago quarter. International sales accounted for 63 percent of the quarter’s revenue.

Apple's big earner was its services with the App Store growing in sales by 19 per cent, reflecting an all-time record. The shrinkage is expected to continue, despite a lot of anticipation for the upcoming iPhone refresh, the company projects its fourth-quarter sales between $45.5 billion and $47.5 billion, compared with $51.5 billion this period last year.

Apple reports record earnings despite softening economy and weakened currencies

By Gadjo Cardenas Sevilla

This is Apple’s biggest revenue and profit ever and likely the most revenue reported by any company, yet it is still dampened by falling short of expectations plus the first ever sales decline for iPhone in Q2, which will be the first downturn for Apple’s marquee product since its launch back in 2007.

Apple held its holiday quarter earnings call yesterday and reported $75.9 billion in revenue, $18.4 billion in profits which breaks previous records for the company despite the global ‘softening’ of the economy and devaled currencies.  Apple’s success is bolstered by iPhone sales, the company sold 74.8 million units for the quarter. iPad sales continued to fall at 16.1 million units sold despite the addition of the iPad Pro, and Mac unit sales were at 5.3 million units in what is traditionally considered Apple’s strongest quarter.

For the same quarter a year ago, Apple reported the following for comparison. $74.6b in revenue, $18 billion in profit, 74.4m iPhones, 21.4m iPads, and 5.5m Macs. Analysts were predicting around $76.6b in revenue, 75m iPhones, 17.3m iPads, and 5.8m Macs this quarter. 

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Apple posts record breaking quarterly revenue of $51.5 billion (US) and quarterly net profit of $11.1 billion

Apple's CEO TIm Cook and Chief Design Officer Jony Ive - Photo by Gadjo Cardenas SevillaApple just announced its record breaking quarterly revenue of $51.5 billion (US) and quarterly net profit of $11.1 billion. Backed by the strong iPhone 6S sales (including sales in China), sustained Mac sales and undeclared sales of the Apple Watch, Apple continues to ride high in terms of devices, services and ecosystems.

Apple started their earnings call with news that they had a quarterly revenue of $51.5 billion (US) and quarterly net profit of $11.1 billion (US), or $1.96 (US) per diluted share. This is despite weakened economies in many countries.

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Strong iPhone, iPad and Mac sales fuel Apple's $49 billion revenue with $10.7 billion in profit

Apple just announced their most recent earnings behind iPhone, iPad and Mac sales.  The company earned a revenue of $49 billion and $10.7 billion in profit for its fiscal quarter ending June 27th. These results compare to revenue of $37.4 billion and net profit of $7.7 billion, or $1.28 per diluted share, in the year-ago quarter. 

Breaking down its products but omitting Apple Watch sales figures, Apple attributes its steady success to the iPhone: 47 million units, the iPad and the Mac at 4.7 million units. Apple Watch, Apple TV and iPods collectively earned the company US $2.6 billion.

“We had an amazing quarter, with iPhone revenue up 59 percent over last year, strong sales of Mac, all-time record revenue from services, driven by the App Store, and a great start for Apple Watch,” said Tim Cook, Apple’s CEO. “The excitement for Apple Music has been incredible, and we’re looking forward to releasing iOS 9, OS X El Capitan and watchOS 2 to customers in the fall.”

Q3 earnings for Apple have been traditionally lower since it is the period leading up to a the yearly iPhone and iPad launches in the Fall as well as generally a quiet time for product and software launches.