Apple Announces Q3 2014 Revenue of $37.4 Billion, Net Profit of $7.7 Billion

Apple announced its Q3 2014 earnings results on Tuesday. The company brought in $37.4 billion in revenue and made a $7.7 billion in profit for the quarter.

From the Apple Press Release:

Apple® today announced financial results for its fiscal 2014 third quarter ended June 28, 2014. The Company posted quarterly revenue of $37.4 billion and quarterly net profit of $7.7 billion, or $1.28 per diluted share. These results compare to revenue of $35.3 billion and net profit of $6.9 billion, or $1.07 per diluted share, in the year-ago quarter. Gross margin was 39.4 percent compared to 36.9 percent in the year-ago quarter. International sales accounted for 59 percent of the quarter’s revenue.

Apple’s board of directors has declared a cash dividend of $.47 per share of the Company’s common stock. The dividend is payable on August 14, 2014, to shareholders of record as of the close of business on August 11, 2014.

For the quarter, Apple sold:

• 35.2 million iPhones
• 13.2 million iPads
• 4.4 million Macs
• 2.9 million iPods

Apple is providing the following guidance for its fiscal 2014 fourth quarter:

• Revenue between $37 billion and $40 billion
• Gross margin between 37 percent and 38 percent
• Operating expenses between $4.75 billion and $4.85 billion
• Other income/(expense) of $250 million
• Tax rate of 26.1 percent

While Q3 was relatively quiet in reference to product announcements, the company did announce the impending acquisition of Beats Electronics and Beat Music, plus announced a partnership with IBM for enterprise-related initiatives.

(Portions Via 9to5Mac)