Apple announces Q3 2013 earnings: 31.2 million iPhones, 14.6 million iPads, 3.8 million Macs
Apple has just announced their Q3 2013 financial results and the highlights include 31.2 million iPhone, 14.6 million iPads, 3.8 million Macs. That's on revenue of $35.3 billion and with a net profit of $6.9 billion. In the release, Apple's CEO, Tim Cook said:
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. 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.
iPhone sales represent a record for the quarter, up 4.2 million from a year ago. iPads were down, however, as were Macs, 2.4 and and 0.2 million respectively. Not in the press release, but in the SEC filing, Apple reported 4.6 million iPod sales, down 2.2 million. Historically roughly 50% of iPod sales have been iPod touch.
Q3 is traditionally a low point for Apple, as the yearly product cycle means hype on what came previously has diminished and everyone is beginning to wait for what comes next. This year especially, when no major new products were announced between October 2012 and June 2013, means Apple is even more susceptible to that curve than previous years, where new iPads debuted in the spring. Of course, this will likely translate into all manner of daft Apple is doomed stories.
Full press release at the bottom. Never mind Wall Street, what do you think?
Apple® today announced financial results for its fiscal 2013 third quarter ended June 29, 2013. The Company posted quarterly revenue of $35.3 billion and quarterly net profit of $6.9 billion, or $7.47 per diluted share. These results compare to revenue of $35 billion and net profit of $8.8 billion, or $9.32 per diluted share, in the year-ago quarter. Gross margin was 36.9 percent compared to 42.8 percent in the year-ago quarter. International sales accounted for 57 percent of the quarter’s revenue.
The Company sold 31.2 million iPhones, a record 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. The Company sold 3.8 million Macs, compared to 4 million in the year-ago quarter.
Apple’s Board of Directors has declared a cash dividend of $3.05 per share of the Company’s common stock. The dividend is payable on August 15, 2013, to shareholders of record as of the close of business on August 12, 2013.
“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,” said Tim Cook, Apple’s CEO. “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.”
“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, Apple’s CFO. Apple is providing the following guidance for its fiscal 2013 fourth quarter:
- revenue between $34 billion and $37 billion
- gross margin between 36 percent and 37 percent
- operating expenses between $3.9 billion and $3.95 billion
- other income/(expense) of $200 million
- tax rate of 26.5%
Apple will provide live streaming of its Q3 2013 financial results conference call beginning at 2:00 p.m. PDT on July 23, 2013 at www.apple.com/quicktime/qtv/earningsq313. This webcast will also be available for replay for approximately two weeks thereafter.