Apple Reports Q3 Earnings, Numbers Show Third Quarter Record for iPhone Sales

On Tuesday, after the market closed, Apple (NASDAQ: AAPL) announced its fiscal 2014 third quarter results in a conference call with CEO Tim Cook and CFO Luca Maestri. Once again, the numbers were positive.

For the quarter ended June 28, 2014, Apple posted a revenue of $37.4 billion and quarterly net profit of $7.7 billion, or $1.28 per diluted share. Those numbers in the year ago quarter were $35.3 billion, $6.9 billion, and $1.07 respectively. Gross margin was 39.4 percent compared to 36.9 percent in the year-ago quarter.

The iPhone did especially well, in fact its sales set a third quarter record. “Our record June quarter revenue was fueled by strong sales of iPhone and Mac and the continued growth of revenue from the Apple ecosystem, driving our highest EPS growth rate in seven quarters,” said Cook. Sales were bolstered by overseas markets - iPhone sales were up 55% year-over-year in BRIC countries (Brazil, Russia, India, China) and international sales accounted for 59 percent of the quarter’s total revenue.

iTunes sales grew 25% year-over-year, which is also a quarterly record.

The Board of Directors also announced a cash dividend of $.47 per share of the Company’s common stock, which will be payable on August 14, 2014, to shareholders of record as of the close of business on August 11, 2014. According to Maestri, “[Apple] generated $10.3 billion in cash flow from operations and returned over $8 billion in cash to shareholders through dividends and share repurchases during the June quarter.”

Apple released the following guidance for Q4 FY 2014:

You can listen to the conference call via Apple's press release.