Apple today announced financial results for its fiscal 2017 third quarter ended July 1, 2017. The Company posted quarterly revenue of $45.4 billion and quarterly earnings per diluted share of $1.67. These results compare to revenue of $42.4 billion and earnings per diluted share of $1.42 in the year-ago quarter. International sales accounted for 61 percent of the quarter's revenue. Apple's guidance for the quarter was $43.5 billion. The street was looking for 40.7 million iPhones and Apple sold 41.02 Million.
"With revenue up 7 percent year-over-year, we're happy to report our third consecutive quarter of accelerating growth and an all-time quarterly record for Services revenue," said Tim Cook, Apple's CEO. "We hosted an incredibly successful Worldwide Developers Conference in June, and we're very excited about the advances in iOS, macOS, watchOS and tvOS coming this fall."
"We reported unit and revenue growth in all our product categories in the June quarter, driving 17 percent growth in earnings per share," said Luca Maestri, Apple's CFO. "We also returned $11.7 billion to investors during the quarter, bringing cumulative capital returns under our program to almost $223 billion."
Apple's board of directors has declared a cash dividend of $0.63 per share of the Company's common stock. The dividend is payable on August 17, 2017 to shareholders of record as of the close of business on August 14, 2017.
Apple's Guidance for its Fiscal 2017 Q4
revenue between $49 billion and $52 billion
gross margin between 37.5 percent and 38 percent
operating expenses between $6.7 billion and $6.8 billion
other income/(expense) of $500 million
tax rate of 25.5 percent
To review Apple's Condensed Statements of Operation PDF click here.
After Apple released their Q3 results, Wall Street pushed the stock up 5.28% or $7.93 in the first five minutes. That number is likely to fluctuate by the morning so keep track of it here.
About Making Comments on our Site: Patently Apple reserves the right to post, dismiss or edit any comments. Those using abusive language or negative behavior will result in being blacklisted on Disqus.