Apple posts revenue increase, net profit decline in Q3

News Wireless Global 23 JUL 2013
Apple posts revenue increase, net profit decline in Q3

Apple posted revenue of USD 35.3 billion for its fiscal third quarter, a slight year-over-year increase from USD 35 billion. Quarterly net profit declined to USD 6.9 billion or USD 7.47 per diluted share, from net profit of USD 8.8 billion or USD 9.32 per share. Gross margin for the three months to June was 36.9 percent, down from 42.8 percent. International sales accounted for 57 percent of the quarter's revenue. 

The company sold 31.2 million iPhones, a record for the June quarter, up from 26 million the prior year. Apple's iPad sales in the quarter dropped from 17 million to 14.6 million. The company sold 3.8 million Macs, down from 4 million.   

The results were in line with Apple's earlier outlook. For fiscal Q4, the company forecast revenue of USD 34-37 billion and a gross margin of 36-37 percent. Apple's board of directors has declared a cash dividend of USD 3.05 per share of the company's common stock, payable on 15 August. 

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