Apple Brings In $35.3 Billion, Sold 31 Million iPhones In Q3


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Apple's third quarter was going to be interesting no matter how you look at it. The company hasn't released any major hardware all year, and its year old iPhone 5 had to fight off competition coming from new devices like the Samsung Galaxy S4 and the HTC One. With all that in mind, Apple did pretty good for itself this year, especially with the iPhone.

Apple announced today in its third quarter earnings that it pulled in $35.3 billion in revenue and quarterly net profit of $6.9 billion. That's a little up from the previous third quarter revenue of $35 billion, but its net profit was down from the previous third quarter's $8.8 billion. The company noted that international sales accounted for 57 percent of its third quarter revenue.

As for individual device sales, iPhone sales were way up at 31.2 million units sold during the third quarter. The company only sold 26 million iPhones in the previous third quarter. It wasn't quite as sunny for Apple's other hardware, however, as iPad sales were down to 14.6 million units sold from last year's 17 million units. Mac sales were also down a little to 3.8 million units from last year's 4 million.

“We are especially proud of our record June quarter iPhone sales of over 31 million and the strong growth in revenue from iTunes, Software and Services,” said Tim Cook, Apple’s CEO. “We are really excited about the upcoming releases of iOS 7 and OS X Mavericks, and we are laser-focused and working hard on some amazing new products that we will introduce in the fall and across 2014.”

As for its fourth quarter, Apple predicts that we'll see the following:

  • revenue between $34 billion and $37 billion
  • gross margin between 36 percent and 37 percent
  • operating expenses between $3.9 billion and $3.95 billion
  • other income/(expense) of $200 million
  • tax rate of 26.5%
  • Despite the decrease in profit, Apple is up 21 points in after hours trading.