30 million iPhone sales saves AppleJuly 24 - 9am
Apple has beaten third quarter expectations, largely in part to strong iPhone sales.
Released this morning NZT, CEO Tim Cook revealed earnings of US$35.3bn in revenue, $6.9 billion in profit and $7.47 earnings per diluted share.
The figures better previous estimates, with the company selling 31.2 million iPhone units during the third quarter ending June 29, 2013.
iPhone sales represent a record haul for the June quarter, compared to 26 million in the year-ago quarter.
Apple also sold 14.6 million iPads during the quarter, compared to 17 million in the year-ago quarter, while shifting a slight decline in Macs at 3.8 million, compared to 4 million in the year-ago quarter.
“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,” Cook said.
“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.”
While still a huge money making machine, Apple’s financials lived up to the lack of hype with a fairly mundane offering.
Looking ahead however, the company provided guidance for the fourth quarter, predicting revenue of between $34bn and $37nn, and declared a cash dividend of $3.05 per share of the company’s common stock – payable on August 15 to shareholders.
“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 Peter Oppenheimer, CFO, Apple.
As reported yesterday, many industry figures believe Apple has shrunk into “just another company”, following the heavy heights of 2012.
“Lately, Apple has become just another company,” wrote Jay Yarrow, journalist, Business Insider. “It’s still (arguably) the best tech company in the world, but it’s not the. best. tech. company. in the world, period.”
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