Apple reported financial results for its fiscal 2014 third quarter ended June 28, 2014. The company posted quarterly revenues of $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 percent compared to 36.9 percent in the year-ago quarter. International sales accounted for 59 percent of the quarter’s revenue.
Tim Cook (CEO, Apple): 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.
Apple 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.
Apple is providing the following guidance for its fiscal 2014 fourth quarter:
- revenues 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 board of directors has declared a cash dividend of 47 cents 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.
[Image courtesy: Apple]