Apple Announces Q3 Financial Results
Apple announced their Q3 financial results today overviewing how the company did during their third quarter, which ended as of June 28, 2008. Compared to last year, they have seen significant growth, especially in the area of iPhone sales. They noted that they sold 717k iPhones that quarter, in comparison to the 270k from the year-ago-quarter.
“We’re proud to report the best June quarter for both revenue and earnings in Apple’s history,” said Steve Jobs, Apple’s CEO. “We set a new record for Mac sales, we think we have a real winner with our new iPhone 3G, and we’re busy finishing several more wonderful new products to launch in the coming months.”
The fact that they are confident about the iPhone 3G is reassuring news, but what was possibly even more interesting is Steve’s mention of products they are planning to launch in the coming months. This is glaringly uncharacteristic of the company in that they almost never mention anything about any future products they may be planning to announce or release. The fact that he did mention it is striking, and undoubtedly has many guessing about what it could be.
Apple announced revenue of $7.46 billion and net quarterly profit of $1.07 billion, or $1.19 per diluted share. Last year at this time they reported revenue of $5.41 billion and net quarterly profit of $818 million, or $.92 per diluted share for the year-ago quarter. Gross margin was 34.8 percent, down from 36.9 percent in the year-ago quarter. International sales accounted for 42 percent of the quarter’s revenue.