Forward-looking: Apple CEO Time Cook said it was the company’s biggest June quarter ever, driven by all-time record revenue from Services, accelerating growth from wearables, strong performance from iPad and Mac and significant improvement in iPhone trends.
Apple on Tuesday announced financial results for its fiscal third quarter ending June 29, 2019. In it, the company posted revenue of $53.8 billion, a one percent increase from the year ago quarter, with quarterly earnings per diluted share of $2.18, which is down 7 percent. Apple said international sales accounted for 59 percent of the quarter’s revenue.
iPhone sales generated $25.99 billion in revenue which is down from $29.47 billion generated during the same period last year.
In its fourth quarter guidance, Apple is expecting :
revenue between $61 billion and $64 billion
gross margin between 37.5 percent and 38.5 percent
operating expenses between $8.7 billion and $8.8 billion
other income / (expense) of $200 million
tax rate of approximately 16.5 percent
Apple’s board has also declared a cash dividend of $0.77 per share of the company’s common stock. The dividend is payable on August 15, 2019, to shareholders of record as of the close of business on August 12.
Apple share value is up more than 4.34 percent in after-hours trading.
Masthead credit: iPhone XS by marianstock