Apple has officially reported its Q3 2016 earnings results with $42.4 billion in revenue and $7.8 billion in profit from the April to June quarter.
Apple® today announced financial results for its fiscal 2016 third quarter ended June 25, 2016. The Company posted quarterly revenue of $42.4 billion and quarterly net income of $7.8 billion, or $1.42 per diluted share. These results compare to revenue of $49.6 billion and net income of $10.7 billion, or $1.85 per diluted share, in the year-ago quarter. Gross margin was 38 percent compared to 39.7 percent in the year-ago quarter. International sales accounted for 63 percent of the quarter’s revenue.
Here’s Apple’s breakdown of iPhone, iPad, and Mac sales from the quarter:
iPhone: 40.4 million units
iPad: 9.9 million units
Mac: 4.2 million units
Apple CEO Tim Cook:
“We are pleased to report third quarter results that reflect stronger customer demand and business performance than we anticipated at the start of the quarter,” said Tim Cook, Apple’s CEO. “We had a very successful launch of iPhone SE and we’re thrilled by customers’ and developers’ response to software and services we previewed at WWDC in June.”
And Apple CFO Luca Maestri:
“Our Services business grew 19 percent year-over-year and App Store revenue was the highest ever, as our installed base continued to grow and transacting customers hit an all-time record,” said Luca Maestri, Apple’s CFO. “We returned over $13 billion to investors through share repurchases and dividends, and we have now completed almost $177 billion of our $250 billion capital return program.”
Apple’s Q3 results compare to the prior quarter’s $50.6 billion in revenue, 51.1 million iPhone sales, 10.2 million iPad sales, and 4 million Mac sales. In the same quarter a year ago, Apple reported $49 billion in revenue, 47 million iPhones sold, 10.9 million iPads sold, and 4.7 million Macs sold. Apple reported $10.5 billion in profit in the prior quarter and $10.7 billion in profit in the year ago quarter. Apple’s revenue guidance for next quarter ranges from $45.5 billion to $47.5 billion.
Read on for Apple’s full Q3 earnings report, and stay tuned as we await Apple’s quarterly conference call at 2 p.m. PT/ 5 p.m. ET to discuss these results. Tim Cook and Luca Maestri are expected to deliver prepared commentary on the earnings results then field questions from analysts participating on the call.
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