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Highlights of the Q3 2013 Apple Financial Results Conference Call

Highlights of the Q3 2013 Apple Financial Results Conference Call

Facts and figures flew hard and fast during Tuesday’s Q3 2013 Apple Financial Results Conference Call. And of course, MacTrast is here to sort them all out for you.

Apple Money

Apple established a new June quarter record for both iPhone sales and revenue. Apple sold 6% more product, versus a 1% in actual revenue growth.

iPhone

There was a 5.2 million increase in sales of iPhones, or a 20% increase for a sell-through of 31.8 million units. iPhone unit sales increased 51% year-over-year in the United States, and the iPhone is number 1 in the U.S. smartphone market with a 39% market share.

iPhone sales are strong in Japan, up 66% year-over-year. It’s the top-selling smartphone in Japan. Apple is either the number 1 or number 2 smartphone maker in most markets that  IDC tracks.

The iPhone has a 62.5% share of the U.S. commercial market, which includes the commercial, industrial and government markets.

There is a 93% loyalty rate amongst iPhone owners.

iPad

The iPad’s unit sell-through was down 3% year-over-year, with 4.1 million units in the channel.

A 2.4 million unit decline, but 80% of that, or 1.9 million units, were due to changes in channel inventory.

The iPad accounted for an 85.3% share in tablet web usage in the U.S. and Canada.

Mac

There were 3.8 million Macs sold in the quarter, a 7% decline from last year, yet it was higher than Apple’s own expectations.

The global computer market overall contracted by 11% last quarter, which indicates that the Mac gained market share.

The new Mac Pro will be available later this year, and OS X Mavericks will be available to customers in the fall.

Education Market

Strong Mac and iPad sales in the U.S. education market led to the best quarter ever for that market.

The state of Maine allows local school districts to choose which products to buy for their students. 94% select Apple products.

Los Angeles County plans to equip all 660,000 students in their system with a tablet by 2014.

iTunes & The App Store

The company saw a total quarterly revenue of $4 billion from iTunes, software and services.

Added new video content to iTunes and Apple TV. Those include HBO Go, and WatchESPN.

1 billion TV episodes and 390 million movies have been downloaded from iTunes to date.

Over 900,000 iOS apps have been created by developers, 375,000 of those for the iPad.

Total app downloads have surpassed 50 billion, and developers have received payments of $11 billion from the App Store, half of that in just the last 4 quarters.

Apple Retail

$4.1 billion in revenue, from the Apple retail stores, flat year-over-year. The stores saw strong growth in iPhone sales.

Apple opened 6 new stores across 5 countries. The quarter ended with 408 stores, including 156 outside the U.S.

There will be 9 new stores in the September quarter, for 27 new store openings in fiscal 2013.

Apple relocated four stores in the June quarter, for 23 such relocations in fiscal 2013.

The average revenue per store was $10.1 million.

There were 16,000 visitors per store, per week.

Cash, Dividends, & Stock Repurchasing

$146.6 billion in cash, compared to $144.7 billion at end of March quarter. $106 billion was offshore.

The company concluded its $1.95 billion accelerated share repurchase program in April.

Apple paid $2.8 billion in dividends and $16 billion in cash on share repurchase activity on the open market.

A $3.05 common share dividend will be payable in August.

$34-37 billion in revenue is expected for the next quarter, with a gross margin between 36% and 37%.

A 26.5% tax rate for the next quarter.

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