Apple reports third quarter fiscal results
Apple has announced the financial results for its fiscal 2014 third quarter that ended June 28. The company posted quarterly revenue of US$37.4 billion and quarterly net profit of $7.7 billion, or $1.28 per diluted share.
These results compare to revenue of $35.3 billion and net profit of $6.9 billion, or $1.07 per diluted share, in the year-ago quarter. Gross margin was 39.4% compared to 36.9% in the year-ago quarter. International sales accounted for 59% of the quarter’s revenue.
Apple’s board of directors has declared a cash dividend of $.47 per share of the Company’s common stock. The dividend is payable on August 14, 2014, to shareholders of record as of the close of business on August 11, 2014.
"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," says CEO Tim Cook. "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."
"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," added Chief Financial Officer Luca Maestri. "We have now taken action on over $74 billion of our $130 billion capital return program with six quarters remaining to its completion."
Apple is providing the following guidance for its fiscal 2014 fourth quarter: revenue between $37 billion and $40 billion; gross margin between 37% and 38%; operating expenses between $4.75 billion and $4.85 billion; other income/(expense) of $250 million; and a tax rate of 26.1%.