We are Digital Passion

Apple Q3 results include $10m in profit

Apple has announced its third-quarter financial results, claiming an “amazing” performance and the successful launch of the Apple Watch, but not revealing any sales numbers for the firm’s first wearable.

Apple’s third-quarter results statement reported positive sales across hardware areas including the Mac computer and the iPhone.

These helped to bring in quarterly revenue of $49.6bn and a net profit of $10.7bn. However, Apple was mute on sales of the Apple Watch, which analysts have predicted may be around 4.2 million.

Revenue and profit increased against the same period last year, when Apple reported revenue of $37.4bn and net profit of $7.7bn.

Apple chief executive Tim Cook was enthusiastic about the results, saying that new hardware, including the Apple Watch, and new services, such as Apple Music, have not disappointed.

“We had an amazing quarter, with iPhone revenue up 59 percent over last year, strong sales of Mac, all-time record revenue from services, driven by the App Store, and a great start for Apple Watch,” he said.


“The excitement for Apple Music has been incredible, and we’re looking forward to releasing iOS 9, OS X El Capitan and watchOS 2 to customers in the fall.”

Apple did not break down figures for the smartwatch, but said that the company shifted 48 million iPhones, just under 11 million iPads and 5.7 million Mac computers in the three-month period.

Shipments are reflected in revenues, and the iPhone was responsible for around $31bn of the $49.6bn quarterly revenues. The iPad claimed $4.5bn and the Mac just over $6bn.

iPhone and Mac units fell against the previous quarter, the iPhone by 22 percent in terms of shipments and revenues and the Mac by five and seven percent respectively.

Year-on-year changes show how much business has improved, despite the previous quarter slowdown, and the iPhone alone has increased shipments by over a third and revenues by almost 60 percent.

Apple has predicted that its next quarterly results will see revenues increase by around $10bn.

Apple chief financial officer Luca Maestri said that growth has “accelerated” and that Apple has served its shareholders well.

“In the third quarter our year-over-year growth rate accelerated from the first half of fiscal 2015, with revenue up 33 percent and earnings per share up 45 percent,” he added.

“We generated very strong operating cash flow of $15bn, and we returned over $13bn to shareholders through our capital return programme.”

Shareholders reacted differently, however, and the Apple results led to an immediate eight percent dive in its share price.


Comments to Apple Q3 results include $10m in profit

Leave a Comment