! ! !🇦🇺  Donate to the Australian Wildfire Relief Fund 

News: Apple Reports Q3 Results

by on July 31, 2018

Apple announced financial results for its fiscal 2018 third quarter ending June 30, 2018. In the conference call, Apple posted a quarterly revenue of $53.3 billion and quarterly earnings per diluted share of $2.34.

If you recall from the second quarter results in May, Apple’s guidance followed a range format:

  • revenue between $51.5 billion and $53.5 billion
  • gross margin between 38 percent and 38.5 percent
  • operating expenses between $7.7 billion and $7.8 billion
  • other income/(expense) of $400 million
  • tax rate of 14.5 percent

Apple beat those estimates this quarter, as per the press release:

Apple today announced financial results for its fiscal 2018 third quarter ended June 30, 2018. The Company posted quarterly revenue of $53.3 billion, an increase of 17 percent from the year-ago quarter, and quarterly earnings per diluted share of $2.34, up 40 percent. International sales accounted for 60 percent of the quarter’s revenue.

“We’re thrilled to report Apple’s best June quarter ever, and our fourth consecutive quarter of double-digit revenue growth,” said Tim Cook, Apple’s CEO. “Our Q3 results were driven by continued strong sales of iPhone, Services and Wearables, and we are very excited about the products and services in our pipeline.”

“Our strong business performance drove revenue growth in each of our geographic segments, net income of $11.5 billion, and operating cash flow of $14.5 billion,” said Luca Maestri, Apple’s CFO. “We returned almost $25 billion to investors through our capital return program during the quarter, including $20 billion in share repurchases.”

Apple’s board of directors has declared a cash dividend of $0.73 per share of the Company’s common stock. The dividend is payable on August 16, 2018 to shareholders of record as of the close of business on August 13, 2018.

Apple is providing the following guidance for its fiscal 2018 fourth quarter:

  • revenue between $60 billion and $62 billion
  • gross margin between 38 percent and 38.5 percent
  • operating expenses between $7.95 billion and $8.05 billion
  • other income/(expense) of $300 million
  • tax rate of approximately 15 percent before discrete items

Apple will provide live streaming of its Q3 2018 financial results conference call beginning at 2:00 p.m. PDT on July 31, 2018 at www.apple.com/investor/earnings-call/. This webcast will also be available for replay for approximately two weeks thereafter.

This post has been filed in News