Apple quarterly revenues up 33%, ships 35% more iPhones

ISLAMABAD ( MEDIA REPORT )
Apple reported revenues for its fiscal third quarter to June up 33 percent year-on-year to USD 49.6 billion, better than the company’s forecast. Apple’s net profit was also up sharply, to USD 10.7 billion or USD 1.85 per share compared to USD 7.7 billion or USD 1.28 per share in the year-ago quarter.
The growth was fueled by continued strong sales of the iPhone, which sold 47.53 million units and generated revenue of USD 31.4 billion. Unit sales were up 35 percent from a year earlier but down 22 percent from fiscal Q2. The iPad sold 10.93 million units in the quarter, down 18 percent year-on-year and 13 percent less than in the previous quarter, while Mac sales rose 9 percent on an annual basis and 5 percent versus Q2 to 4.8 million units.
On a geographic basis, Apple more than doubled its revenues year-on-year in China, to USD 13.2 billion. In the Americas, revenue rose 15 percent to USD 20.2 billion, and sales in Europe rose 19 percent from a year earlier to USD 10.3 billion.
Apple did not release any figures for its new smartwatch, grouping it with other products such as Apple TV, Beats accessories and the iPod, which together generated USD 2.5 billion in revenue in the quarter. CEO Tim Cook said Apple saw a “great start” for Apple Watch in the quarter, while also setting a new record for revenues from services in the period.
In addition, the company generated USD 15 billion in operating cash flow in the quarter and maintained its dividend at USD 0.52 per share. For its fiscal fourth quarter, Apple forecast revenues of USD 49-51 billion and a gross margin of 38-39.5 percent, down slightly from 39.7 percent in the previous quarter.
Courtesy…….Telecompaper