Apple Earnings Released, Revenue $37.4 Billion
Apple announced its earnings for its fiscal 2014 Q3 (ended June 28). This includes revenue of $37.4 billion, and net profit of $7.7 billion, or $1.28 per diluted share. These are up from $35.3 billion revenue, net profit of $6.9 billion, and $1.07 per diluted share last year.
Gross margin was up year-over-year at 39.4 % from 36.9%. International sales, the company said, accounted for 59% of the quarter’s revenue.
CEO Tim Cook said, “Our record June quarter revenue was fueled by strong sales of iPhone and Mac and the continued growth of revenue from the Apple ecosystem, driving our highest EPS growth rate in seven quarters. We are incredibly excited about the upcoming releases of iOS 8 and OS X Yosemite, as well as other new products and services that we can’t wait to introduce.”
The company also declared a cash dividend of $.47 per share of common stock, payable on August 14 to shareholders as of closing on August 11.
CFO Luca Maestri added, “We generated $10.3 billion in cash flow from operations and returned over $8 billion in cash to shareholders through dividends and share repurchases during the June quarter. We have now taken action on over $74 billion of our $130 billion capital return program with six quarters remaining to its completion.”
Apple expects between $37 billion and $40 billion for its fiscal 2014 Q4.
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