Apple reports Q3 2014 earnings, with 35.2 million iPhones and 13.28 million iPads

Apple announced their Q3 2014 financial results today, for the time period ending June 28, 2014. The company revenue of $37.4 billion and quarterly net profit of $7.7 billion, or $1.28 per diluted share. Compared to $35.3 billion and quarterly net profit of $6.9 billion, or $1.07 per diluted share, from the previous year. 

The main takeaway elements from the initial report include:

  • 35.2 million iPhones
  • 13.28 million iPads
  • 4.4 million Macs sold

    Plus, the usual Apple forecasts:

  • revenue between $37 billion and $40 billion
  • gross margin between 37 percent and 38 percent
  • operating expenses between $4.75 billion and $4.85 billion
  • other income/(expense) of $250 million
  • tax rate of 26.1 percent

    Apple’s CEO Tim Cook said this about the company’s results:

    “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. 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.“ 

    Luca Maestri, Apple’s CFO, had this to add:

    “We generated $10.3 billion in cash flow from operations and returned over $8 billion in cash to shareholders through dividends and share repurchases during the June quarter. We have now taken action on over $74 billion of our $130 billion capital return program with six quarters remaining to its completion.“

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