Apple Reports Q3 2019 Results: $10B Profit on $53.8B Revenue, Highest June Quarter Revenue Ever [Live Blog]

Wednesday, July 31, 2019

Apple Reports Q3 2019 Results: $10B Profit on $53.8B Revenue, Highest June Quarter Revenue Ever [Live Blog]

Apple today announced financial results for the third fiscal quarter of 2019, which corresponds to the second calendar quarter of the year. For the quarter, Apple posted revenue of $53.8 billion and net quarterly profit of $10.0 billion, or $2.18 per diluted share, compared to revenue of $53.3 billion and net quarterly profit of $11.5 billion, or $2.34 per diluted share, in the year-ago quarter.

The revenue figure was Apple's highest ever for the June quarter, just beating out the year-ago quarter, although profits dipped on lower margins.

Gross margin for the quarter was 37.6 percent compared to 38.3 percent in the year-ago quarter, with international sales accounting for 59 percent of revenue. Apple also declared a quarterly dividend payment of $0.77 per share, payable on August 15 to shareholders of record as of August 12.

This is the third quarter since Apple changed the way it reports its results, with the company no longer providing unit sales data for iPhone, iPad, and Mac. As a result, Apple is only providing revenue figures for its various segments, leaving analysts to estimate unit sales based on their own calculations.

“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's guidance for the fourth quarter of fiscal 2019 includes expected revenue of $61–64 billion and gross margin between 37 and 37.5 percent.

Apple will provide live streaming of its fiscal Q3 2019 financial results conference call at 2:00 p.m. Pacific, and MacRumors will update this story with coverage of the conference call highlights.

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