Apple quarterly sales stronger than expected

Apple reported revenues of USD 42.1 billion for its fiscal fourth quarter to September, up from USD 37.5 billion a year earlier and better than the company’s forecast of USD 37-40 billion. The gross margin rose to 38 percent from 37 percent, and net profit increased to USD 8.5 billion or USD 1.42 per share, from USD 7.5 billion or USD 1.18 per share a year ago.

The company sold 39.2 million iPhones in the quarter, up 16 percent year-on-year, while iPad sales fell 13 percent to 12.3 million. The number of Macs sold rose by 25 percent to 5.5 million.

After operating cash flow of USD 13.3 billion in the quarter, Apple will pay a cash dividend of USD 0.47 per share. For the current quarter, Apple forecast a jump in revenue to USD 63.5-66.5 billion, thanks to strong sales of the recently launched iPhone 6. The gross margin is estimated at 37.5-38.5 percent.

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