The financial results for the third fiscal quarter of 2017 were announced today by Apple. (The fiscal quarter is equivalent to the second calendar quarter of the year). And in the past three months, Apple posted revenue of $45.4 billion and net quarterly profit of $8.7 billion. Compared to the income of 42.4 billion it is $1.67 per diluted share and the net quarterly profit of $7.8 billion; in the quarter a year ago it was $1.42 per diluted share.
In the previous year’s quarter, with international sales accounting for 61% of revenue the gross margin was 38%. This quarter the margin rested at 38.5% which is a slight increase if you were to compare. The Cupertino company had also declared a quarterly dividend of $0.63 per share that will be payable on August 17th to the shareholders of record as of August 14th.
The total number of iPhones sold during the quarter was 41 million which is a million more than last year. The sale of Mac has also increased to 4.29 million units from 4.25 million in the year ago quarter which followed the introduction of some updated Macs in June.
There was a significant increase in the sale of iPad as well with the new iPad Pro models’ released late in the quarter. Earlier this year the prices of iPad were also being slashed down due to which the sales rose to 11.42 million from 9.95 million previously. It was an average of 28% increase in sales which if compared to the 15% in the previous quarter last year, it’s pretty impressive.
Apple’s CEO Tim Cook mentioned, “With revenue up 7 percent year-over-year, we’re happy to report our third consecutive quarter of accelerating growth and an all-time quarterly record for Services revenue.” He further added, “We hosted an incredibly successful Worldwide Developers Conference in June, and we’re very excited about the advances in iOS, macOS, watchOS and tvOS coming this fall.”
For the fourth quarter fiscal of 2017, Apple has given the revenue expectations of $49 to $52 billion with a gross margin of 37.5 and 38 percent.
