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Apple Boasts Strong iPhone Sales for Fiscal Q3
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Apple Boasts Strong iPhone Sales for Fiscal Q3

The Cupertino-based tech giant announced its third quarter financial results for 2014, ending June 28, boasting hug...

Apple Boasts Strong iPhone Sales for Fiscal Q3

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.

 

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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.

 

Not much was said in the third quarter announcement on the recently purchased Beats Electronics, or the mobile enterprise reinvention with IBM, but Cook did drop a few words on the quarter to come.

 

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

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