Posted on 07/21/2015 2:03:36 PM PDT by Swordmaker
Apple today announced financial results for its fiscal 2015 third quarter ended June 27, 2015. The Company posted quarterly revenue of $49.6 billion and quarterly net profit of $10.7 billion, or $1.85 per diluted share. These results compare to revenue of $37.4 billion and net profit of $7.7 billion, or $1.28 per diluted share, in the year-ago quarter. Gross margin was 39.7 percent compared to 39.4 percent in the year-ago quarter. International sales accounted for 64 percent of the quarter’s revenue.
Wall Street analysts’ consensus estimates called for Apple to report EPS of $1.81 on revenue of $49.31 billion for 31.70% YOY growth.
The growth was fueled by record third quarter sales of iPhone and Mac, all-time record revenue from services and the successful launch of Apple Watch.
“We had an amazing quarter, with iPhone revenue up 59 percent over last year, strong sales of Mac, all-time record revenue from services, driven by the App Store, and a great start for Apple Watch,” said Tim Cook, Apple’s CEO. “The excitement for Apple Music has been incredible, and we’re looking forward to releasing iOS 9, OS X El Capitan and watchOS 2 to customers in the fall.”
Cook told CNBC that Android to iPhone switchers are accelerating and hit the highest rate ever this quarter. Cook also sees Apple Watch as being a big holiday gift. Apple’s cash on-hand has broken above $200 billion for the first time.
Apple Inc. Q3 2015 Unaudited Summary Data
(Units in thousands, Revenue in millions)
(1) Includes deferrals and amortization of related non-software services and software upgrade rights.
(2) Includes revenue from iTunes, AppleCare, Apple Pay, licensing and other services.
(3) Includes sales of Apple TV, Apple Watch, Beats Electronics, iPod and Apple-branded and third-party accessories.
“In the third quarter our year-over-year growth rate accelerated from the first half of fiscal 2015, with revenue up 33 percent and earnings per share up 45 percent,” said Luca Maestri, Apple’s CFO. “We generated very strong operating cash flow of $15 billion, and we returned over $13 billion to shareholders through our capital return program.”
Apple is providing the following guidance for its fiscal 2015 fourth quarter:
• revenue between $49 billion and $51 billion
• gross margin between 38.5 percent and 39.5 percent
• operating expenses between $5.85 billion and $5.95 billion
• other income/(expense) of $400 million
• tax rate of 26.3 percent
Apple’s board of directors has declared a cash dividend of $.52 per share of the Company’s common stock. The dividend is payable on August 13, 2015, to shareholders of record as of the close of business on August 10, 2015.
Apple will provide live streaming of its Q3 2015 financial results conference call beginning at 2:00 p.m. PDT on July 21, 2015 at www.apple.com/quicktime/qtv/earningsq315. This webcast will also be available for replay for approximately two weeks thereafter.
MacDailyNews Take:
Apple CEO Tim Cook
I guess the street expected more. Last look it was down in after hours. Tomorrow will tell.
They did great but was it very much above the street estimates?
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4 cents per share above expectations... expected 1.81 came in at 1.85.
At the moment Apple is tanking after hours due to a disappointing 4th quarter outlook.
What new products do they have coming?
Revamped MacBook Pro line (14nm processors).
iPhone 6S, 6S+.
Next version OS X.
Next version iOS.
Next version WatchOS.
Possible 12” iPad Pro.
Usually a couple outright surprises.
Classic buy the rumor and sell the fact.
Also, a bit more iffy but likely:
AppleTV update (4K support?).
Retina desktop iMacs including 5K or better Cinema display for Mac Pro.
Live/local streaming TV for AppleTV.
So the usual look and nothing surprising.
So that's what it takes to "pulverize" the Street. This Street thing seems rather fragile.
More like taking profits now that actual quarter-end results are known. Typical market behavior.
Who knows what else?
They did their “new and surprising” earlier this year. 1-port ultra thin MacBook, iPhone 6+, Apple Watch.
Remember, Apple has a VERY small slate of products - and that’s how they keep it. Expansion of the line is sparing, Watch having done plenty of that for the year. Updates are typically incremental, and having done so to a bit of the line now is time to expand those changes across the line (retina for all iMacs; USB-C for all MacBooks; + sized iPad; >= 4K displays for AppleTV and Mac Pro).
Do you seriously expect something more “unusual and surprising”? got examples? an electric car maybe?
Hmmm...they didn’t publish the number of units sold of watches. Or did they and it’s just not in this screenshot?
More money for the homo-nazi and his ignorant sycophants to kill freedom.
Toshiba Japan just got caught cooking the books.
I wonder how many accounting wizards Apple has in its employ. The books are probably kept in India; do you think the SEC would spend money investigating? They need to investigate Trump right now. No time for AAPL.
I’ve invested in Apple for a while, it’s a sharper drop than usual. Still, with the market you never know and they could rise tomorrow.
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