Apple’s Q3 2018 Earnings: $53.3 Billion Revenue & $11.5 Billion Profit

Apple announced their financial results for their third fiscal quarter, and second calendar quarter of 2018. Apple posted a revenue of $53.3 billion, and net profit of $11.5 billion for the quarter, with $1.67 per diluted share. Compare that to Q3 2017, when Apple posted revenue of $45.4 billion, and profit of $8.7 billion ($1.67 per diluted share) for the quarter, showing a significant gain from the year ago quarter. Apple saw a 17.4% increase in revenue, and just over 32% increase in profit. Gross Margin was at 38.3% compared to 38.5% the year ago quarter, and 60% of sales were international. Apple’s guidance for this quarter was between $51.5–53.5 billion, so they came in at the high end of that range.

As far as unit sales, the iPhone reached 41.3 million units in the quarter, compared to 41 million from the year ago quarter. Apple sold 11.55 million iPads, just up from the 11.42 million in Q3 2017. Apple also sold 3.72 million Macs, which is just up from the 4.29 in the year ago quarter. The Services sector of Apple earned a record $9.5 billion in revenue for the quarter. The company now has $243.7 billion in cash and marketable securities. Apple’s guidance for the fourth quarter of 2018 offers expected revenue of $60 – $62 billion, and gross margin between 38 and 38.5%.

As CEO Tim Cook describes,

We’re thrilled to report Apple’s best June quarter ever, and our fourth consecutive quarter of double-digit revenue growth. 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.”

You can listen to the full conference call here.

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