Apple Inc (NASDAQ: AAPL) reported its 2018 third-quarter results today (31 July USA time) and showed the following results:
- Revenue of $US53.3 billion
- International sales of 60% of quarterly revenue — all regions grew year over year
- A dividend of $US0.73 will be paid
- Quarterly share buybacks totalled $US20 billion
Looking out to the final quarter of 2018, Apple expects:
- Revenue between $US60 billion and $US62 billion
- Gross margin between 38% and 38.5%
- Tax rate of around 15%
“We’re thrilled to report Apple’s best June quarter ever, and our fourth consecutive quarter of double-digit revenue growth,” Apple CEO Tim Cook said.
“Our Q3 results were driven by continued strong sales of iPhone, Services and Wearables, and we are very excited about the products and services in our pipeline.”
Apple sold 41.3 million iPhones during the quarter, up 1% year over year. However, thanks to price increases, revenue from iPhone sales rose 20%. Revenue from iPad and Mac sales went backwards 5%.
According to Bloomberg, Apple’s results and growth expectations were around 7% better than analysts had been expecting.
According to Google Finance, Apple’s shares are up 4% in after-hours trading. If it jumps that much when markets re-open it’ll be a big increase in Apple’s total market valuation — and could push it close to elusive $US1 trillion.
In the race for a $1 trillion valuation is Amazon.Com (NASDAQ: AMZN) at $US876 billion and Alphabet Inc (NASDAQ: GOOGL) at $US884 billion.