Apple Reports Record June Quarter Results in its History

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  • Apple’s international sales accounted for 59 percent of the quarter’s revenue
  • Company’s board of directors has declared a cash dividend of $0.77 per share of the Apple’s common stock

Apple has announced financial results for its fiscal 2019 third quarter ended June 29, 2019. The company posted quarterly revenue of $53.8 billion, an increase of one per cent from the year-ago quarter, and quarterly earnings per diluted share of $2.18, down 7 percent.

“This was our biggest June quarter ever — driven by all-time record revenue from Services, accelerating growth from Wearables, strong performance from iPad and Mac and significant improvement in iPhone trends,” said Tim Cook, Apple’s CEO.

International sales accounted for 59 percent of the quarter’s revenue

The company said that 59 per cent of the quarter’s revenue came through international sales made by the company. It is to be noted here that Apple sells almost every of its products in international markets including India.

Tim Cook added, “These results are promising across all our geographic segments, and we’re confident about what’s ahead. The balance of calendar 2019 will be an exciting period, with major launches on all of our platforms, new services and several new products.”

Apple’s board of directors has declared a cash dividend of $0.77 per share of the company’s common stock. The dividend is payable on 15 August 2019 to shareholders of record as of the close of business on 12 August 2019.

“Our year-over-year business performance improved compared to the March quarter and drove strong operating cash flow of $11.6 billion,” said Luca Maestri, Apple’s CFO.

Guidance for its fiscal 2019 fourth quarter

Apple is providing the following guidance for its fiscal 2019 fourth quarter. It is expecting revenue figures between $61 billion and $64 billion gross margin between 37.5 percent and 38.5 percent. The company said is expects operating expenses between $8.7 billion and $8.8 billion other income/(expense) of $200 million with tax rate of approximately 16.5 percent.

Luca Maestri added, “We returned over $21 billion to shareholders during the quarter, including $17 billion through open market repurchases of almost 88 million Apple shares, and $3.6 billion in dividends and equivalents.”

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