Cupertino, Calif.-based Apple earned $7.47 per share on $35.3 billion in revenue for its fiscal third-quarter. Analysts surveyed by Thomson Reuters were expecting $7.32 per share in earnings on $35.01 billion in sales.
During the quarter, Apple sold 31.2 million iPhones, up from 26 million in the year-ago quarter. It sold 14.6 million iPads during the quarter, compared to 17 million in the year-ago quarter, and sold 3.8 million Macs during the quarter, down from from 4 million in the year-ago quarter.
Gross margins during the quarter was 36.9%, down from 42.8% in the year-ago quarter."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." For the fourth-quarter, Apple expects revenue to be between $34 billion and $37 billion, with gross margins between 36% and 37%. It expects operating expenses to be between $3.9 billion and $3.95 billion. Shares of Apple closed the regular session lower, off 1.7% to $418.99. The stock is higher in extended-hours trading, up 2.6% to $430.00. -- Written by Chris Ciaccia in New York >Contact by Email. Follow @Chris_Ciaccia
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV