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Apple Fiscal Q3 2019 Results: $10B Profit on $53.8B Revenue, Sets June Quarter Record

Apple Fiscal Q3 2019 Results: $10B Profit on $53.8B Revenue, Sets June Quarter Record

Apple on Tuesday announced financial results for its fiscal 2019 third quarter ended June 29, 2019. The Company posted quarterly revenue of $53.8 billion, an increase of 1% from the year-ago quarter, quarterly earnings per diluted share were $2.18, down 7%.

While the revenue figure was Apple’s highest ever for the June quarter – just beating out the same quarter a year ago – profits were down on lower margins.

Gross margin for the quarter was 37.6% compared to 38.3% in the year-ago quarter, with international sales accounting for 59% of revenue.

“This was our biggest June quarter ever — driven by all-time record revenue from Services, accelerating growth from Wearables, strong performance from iPad and Mac and significant improvement in iPhone trends,” said Tim Cook, Apple’s CEO. “These results are promising across all our geographic segments, and we’re confident about what’s ahead. The balance of calendar 2019 will be an exciting period, with major launches on all of our platforms, new services and several new products.”

Apple is providing the following guidance for its fiscal 2019 fourth quarter:

  • Revenue between $61 billion and $64 billion
  • Gross margin between 37.5 percent and 38.5 percent
  • Operating expenses between $8.7 billion and $8.8 billion
  • Other income/(expense) of $200 million
  • Tax rate of approximately 16.5 percent

Apple’s board of directors declared a quarterly dividend payment of $0.77 per share, payable on August 15 to shareholders of record as of August 12.

Apple will provide live streaming of its Q3 2019 financial results conference call beginning at 2:00 p.m. PDT (5:00 p.m. EDT) on July 30, 2019 at www.apple.com/investor/earnings-call/.

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