Weekly email of our best stuff
Hello and welcome to contact us page at eProfits
How can we help you today?
The Cupertino-based tech giant announced its third quarter financial results for 2014, ending June 28, boasting hug...
The Cupertino-based tech giant announced its third quarter financial results for 2014, ending June 28, boasting huge iPhone but weak iPad sales. Apple reported a third quarter revenue of $37.4 billion and profits of $7.7 billion, or $1.28 per diluted share. Last year's results for the same quarter were $35.3 billion in revenue and $6.9 billion net profit, or $1.07 per diluted share.
Apple sold 35.2 million iPhones in 2014’s third fiscal quarter, generating $19.7 billion in revenue. That's a 13% increase in iPhone sales compared to last year's 31.2 billion units sold in the same quarter. Apple sold 13.2 billion iPads this quarter, which is a 9% loss in sales compared to Q3 2013.
Mac sales were standing tall with 4.4 billion units sold, compared to 3.7 billion last year, an 18% increase. iPods faced a 36% loss compared to Q3 2013, with 2.9 billion units sold in Q3 2014.
Gross margin was 39.4%, as compared to last year's of 36.9%. Apple's international sales made up 59% of the quarter's total revenue.
Apple CEO Tim Cook is happy with the third quarter sales. “Our record June quarter revenue was fueled by strong sales of iPhone and Mac and the continued growth of revenue from the Apple ecosystem, driving our highest EPS growth rate in seven quarters,” he said.
Apple is looking forward to upcoming releases and introducing new products, Cook says. “We are incredibly excited about the upcoming releases of iOS 8 and OS X Yosemite, as well as other new products and services that we can’t wait to introduce.”
Here is Apple's guidance for Q4 2014, as laid out in their Press Info:
revenue between $37 billion and $40 billion
gross margin between 37 and 38 percent
operating expenses between $4.75 and $4.85 billion
other income/(expense) of $250 million
tax rate of 26.1 percent