Apple released financial results for its fiscal 2013 third quarter ended June 29, 2013. The company’s earnings beat street expectations by around 14 cents per share. There are ‘amazing new products’ around the corner as well.
Apple posted quarterly revenues of $35.3 billion and quarterly net profit of $6.9 billion, or $7.47 per diluted share. These results compare to revenues 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.
Apple sold 31.2 million iPhones, compared to 26 million in the June quarter a year ago. 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.
Tim Cook (CEO, Apple): 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’s board 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.
Apple generated $7.8 billion in cash flow from operations during the quarter, and returned $18.8 billion in cash to shareholders through dividends and share repurchases.
Apple is providing the following guidance for its fiscal 2013 fourth quarter:
- Revenues 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%
[Image courtesy: Apple]