Apple has done it again with revenue Up 17 Percent and EPS Up 40 percent to a new June Quarter Record. 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.
Tim Cook, Apple's CEO: "We're thrilled to report Apple's best June quarter ever, and our fourth consecutive quarter of double-digit revenue growth. 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."
Luca Maestri, Apple's CFO: "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. We returned almost $25 billion to investors through our capital return program during the quarter, including $20 billion in share repurchases."
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'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 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.
What Other News Sources are Reporting
- Reuters: Apple earnings beat expectations as it sells pricier iPhones
- Bloomberg: Apple Forecast Tops Analysts’ Estimates on New iPhones, Services
- CNBC: Apple jumps after strong third-quarter report
At 5 p.m. PST Apple's stock (AAPL) was +7.46 (3.92%). It will fluctuate into tomorrow, so you could check out its current status here.
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