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Bryan M. Wolfe
| July 23, 2013
Apple Announces Record iPhone Sales During Its Third Quarter
Apple has just released its financial results for its fiscal 2013 third quarter, which ended on June 29. The company posted quarterly revenue of $35.3 billion and a quarterly net profit of $6.9 billion, or $7.47 per diluted share. These results compare to revenue of $35.0 billion and a quarterly net profit of $8.8 billion, or $9.32 per diluted share, in the year-ago quarter. The company sold 31.2 million iPhones in the quarter, a record for the June quarter, compared to 26 million year over year. Apple also sold 14.6 million iPads during the quarter, compared to 17 million in the year-ago quarter. Finally, the company announced that it sold 3.8 million Macs, compared to 4 million year over year. Apple’s Board of Directors have also declared a cash dividend of $3.05 per share of the company’s common stock. The dividend is payable on Aug. 15, 2013, to shareholders of record as of the close of business on Aug. 12, 2013. According to Apple CEO Tim Cook:
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.Apple is providing the following guidance for its fiscal 2013 fourth quarter:
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.
- 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%