Apple Reports Q3 2012 Earnings: $35 Billion In Revenue And $8.8 Billion In Profit
Earlier today, Apple revealed their earnings and financial figures for the third quarter of the 2012 fiscal year. Apple announced $35 billion in revenue and a net profit of $8.8 billion (or $9.39 per diluted share).
While surpassing the third fiscal quarter of 2011 ($28.57 billion total and a profit of $7.31 billion), Apple failed to meet last quarter’s $39.2 billion earnings and $11.6 billion net profit. However, the company still outperformed their expectations of $34 billion in revenue, announced last quarter.
Amazingly, Apple’s overall sales figures have dramatically increased over last year’s. iPad sales topped 17 million, a huge leap of 84 perfect compared to last year’s sales and can likely be attributed to the new 3rd-generation iPad’s launch. iPhone sales are up 28 percent and Mac sales are up 2 percent from last year’s second quarter, with 26 million iPhones and 4 million Macs sold. However, iPod sales have rapidly declined to a total of 6.8 million – a 10 percent difference – and is probably the result of a lack of updates to the product line.
Here’s Apple’s official press release (in its entirety):
Apple Reports Third Quarter Results
17 Million iPads Sold
Board Declares Quarterly Dividend of $2.65 per Common Share
CUPERTINO, California—July 24, 2012—Apple® today announced financial results for its fiscal 2012 third quarter ended June 30, 2012. The Company posted quarterly revenue of $35.0 billion and quarterly net profit of $8.8 billion, or $9.32 per diluted share. These results compare to revenue of $28.6 billion and net profit of $7.3 billion, or $7.79 per diluted share, in the year-ago quarter. Gross margin was 42.8 percent compared to 41.7 percent in the year-ago quarter. International sales accounted for 62 percent of the quarter’s revenue.
The Company sold 26.0 million iPhones in the quarter, representing 28 percent unit growth over the year-ago quarter. Apple sold 17.0 million iPads during the quarter, an 84 percent unit increase over the year-ago quarter. The Company sold 4.0 million Macs during the quarter, a two percent unit increase over the year-ago quarter. Apple sold 6.8 million iPods, a 10 percent unit decline from the year-ago quarter.
Apple’s Board of Directors has declared a cash dividend of $2.65 per share of the Company’s common stock. The dividend is payable on August 16, 2012, to stockholders of record as of the close of business on August 13, 2012.
“We’re thrilled with record sales of 17 million iPads in the June quarter,” said Tim Cook, Apple’s CEO. “We’ve also just updated the entire MacBook line, will release Mountain Lion tomorrow and will be launching iOS 6 this Fall. We are also really looking forward to the amazing new products we’ve got in the pipeline.”
“We’re continuing to invest in the growth of our business and are pleased to be declaring a dividend of $2.65 per share today,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the fourth fiscal quarter, we expect revenue of about $34 billion and diluted earnings per share of about $7.65.”
Apple will provide live streaming of its Q3 2012 financial results conference call beginning at 2:00 p.m. PDT on July 24, 2012 at www.apple.com/quicktime/qtv/earningsq312. This webcast will also be available for replay for approximately two weeks thereafter.
Stay tuned for additional coverage on Apple and their quarterly earnings.