Apple last night announced financial results for its fiscal 2012 third quarter ended June 30, 2012 that did not quite meet market expectations, but still contained record numbers.
The Company posted quarterly revenue of $35.0 billion and quarterly net profit of $8.8 billion, or $9.32 per diluted share. Market expectations had been for $37,2bn in revenue. However, these results compare to revenue of $28.6 billion and net profit of $7.3 billion, or $7.79 per diluted share, in the year-ago quarter. Gross margin was 42.8 percent compared to 41.7 percent in the year-ago quarter. International sales accounted for 62 percent of the quarter’s revenue. The Company sold 26 million iPhones in the quarter, representing 28 percent unit growth over the year-ago quarter. Apple sold 17 million iPads during the quarter, an 84 percent unit increase over the year-ago quarter. The Company sold 4 million Macs during the quarter, a two percent unit increase over the year-ago quarter. Apple sold 6.8 million iPods, a 10 percent unit decline from the year-ago quarter. Apple’s Board of Directors has declared a cash dividend of $2.65 per share of the Company’s common stock. The dividend is payable on August 16, 2012, to stockholders of record as of the close of business on August 13, 2012. ‚”We’re thrilled with record sales of 17 million iPads in the June quarter,‚” said Tim Cook, Apple’s CEO. ‚”We’ve also just updated the entire MacBook line, will release Mountain Lion tomorrow and will be launching iOS 6 this Fall. We are also really looking forward to the amazing new products we’ve got in the pipeline.‚” ‚”We’re continuing to invest in the growth of our business and are pleased to be declaring a dividend of $2.65 per share today,‚” said Peter Oppenheimer, Apple’s CFO. ‚”Looking ahead to the fourth fiscal quarter, we expect revenue of about $34 billion and diluted earnings per share of about $7.65.‚” Analysts expressed concern that almost two-thirds of Apple sales now come from outside the USA – in particular from markets that are experiencing deepening economic woes. However, this is countered by the release of its new Mountain Lion OS, being shipped today. The new iPhone is expected in September or October, which will further boost revenues. Meanwhile, the new range of Macbook Pro and Air models were released only three weeks before the end of the quarter, and the unanimously positive reviews they have earned should ensure a further shot in the arm for Apple.
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