Apple today announced that they had a record breaking quarter ever in terms of revenue, which was mostly driven by the strong and steady sales of their iPad.
As scheduled, Apple’s CEO Tim Cook and CFO Peter Oppenheimer started off with their Q3 2012 Results call, and they seemed to be extremely excited. Tim Cook stated that the company had sold over 17 million iPads and announced that their much awaited, Mountain Lion will be out on the Mac App Stores on 25th July!
“We’re thrilled with record sales of 17 million iPads in the June quarter. 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.”
The company actually incurred a 24% decline in the profit they made out of their revenue this quarter, as they made just $8.8 billion profit out of the $35 billion revenue they generated. That’s on one side, but the company has increased its cash pile in their hand. Apple now has $117 billion in cash in their hands, and this has increased by $7 billion when compared to the last quarter.
Apple’s iPad has pulled the revenues off this time. The beautiful tablet made $17 million in the last quarter, which is a 44% increase when compared to the last quarter. While talking about the statistics got over, Apple’s CEO took some time to talk about India and the devices that are coming out this year.
“We try very hard to keep our product roadmaps secret and confidential, we do extreme activities to try and do that. That however, doesn’t stop people from speculating or wondering, and will never do that. That’s the great thing about this country, people can say what they think, and so forth. So, I’m not going to spend any energy trying to change that. That’s just the environment we’re in.
I’m glad that people want the next thing. I’m super happy about it. There are obviously quite a few that want what we’re currently doing as well, as witnessed by the amount of products that we’re selling. So I’m not going to put any energy into trying to get people to stop speculating. I don’t think that’s going to amount to anything.”
Tim Cook also spoke something about Indian markets. He says that the major problem with the Indian market is the multi-layered distribution system to sell their devices in the country. I personally think Apple is on the right track, and with the next iPhone coming out this fall, the company is expected to have a huge profit in the coming quarter.
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.”
Source: Apple