Apple Announces Profit of $10.4 billion

Apple’s earnings day is here where Apple announces their Q3 earnings. Apple originally forecasted earnings between $52.5 billion and $54.5 billion. Apple has confirmed that they made $53.8 billion revenue and $10.4 billion profit.

Apple is providing the following guidance for its fiscal 2019 fourth quarter: 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

CEO Tim Cook said this about Apple’s Q3 2019 earnings:

“This was our 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,” said Tim Cook, Apple’s CEO. “These results are promising across all our geographic segments, and we’re confident about what’s ahead. The balance of calendar 2019 will be an exciting period, with major launches on all of our platforms, new services and several new products.”

“Our year-over-year business performance improved compared to the March quarter and drove strong operating cash flow of $11.6 billion,” said Luca Maestri, Apple’s CFO. “We returned over $21 billion to shareholders during the quarter, including $17 billion through open market repurchases of almost 88 million Apple shares, and $3.6 billion in dividends and equivalents.”

Apple no longer reports iPhone, iPad, and Mac unit sales numbers, though it does report a revenue breakdown by product category.

2019 year Q3 results

$25.99 billion iPhone $11.46 billion: Services $5.82 billion: Mac $5.53 billion: Wearables, Home and Accessories $5.02 billion: iPad

2018 year Q3 results $29.48 billion iPhone $10.17 billion: Services $5.26 billion: Mac $3.73 billion: Wearables, Home and Accessories $4.64 billion: iPad

It’s clear that services are growing rapidly and wearables make up a strong part of Apple’s profit margins. Apple’s board of directors has 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, 2019.

Apple Q3 FY19 Consolidated Financial Statements by Digital Nomad on Scribd