APPLE 3rd QUARTER FINANCIALS
PING!
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Posted on 07/30/2019 3:47:17 PM PDT by Swordmaker
Apple today announced financial results for its fiscal 2019 third quarter ended June 29, 2019. The Company posted quarterly revenue of $53.8 billion, an increase of 1 percent from the year-ago quarter, and quarterly earnings per diluted share of $2.18, down 7 percent. International sales accounted for 59 percent of the quarter’s revenue.
“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, in a statement. “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.”
“Our year-over-year business performance improved compared to the March quarter and drove strong operating cash flow of $11.6 billion,” said Luca Maestri, Apple’s CFO, in a statement. “We returned over $21 billion to shareholders during the quarter, including $17 billion through open market repurchases of almost 88 million Apple shares, and $3.6 billion in dividends and equivalents.”
Net sales by category: • iPhone: $25.986 billion • Mac: $5.820 billion • iPad: $5.023 billion • Wearables, Home and Accessories: $5.525 billion • Services: $11.455 billion
Apple is providing the following guidance for its fiscal 2019 fourth quarter:
• revenue between $61 billion and $64 billion • gross margin between 37.5 percent and 38.5 percent • operating expenses between $8.7 billion and $8.8 billion • other income/(expense) of $200 million • tax rate of approximately 16.5 percent
Apple’s board of directors has declared a cash dividend of $0.77 per share of the Company’s common stock. The dividend is payable on August 15, 2019 to shareholders of record as of the close of business on August 12, 2019.
Apple will provide live streaming of its Q3 2019 financial results conference call beginning at 2pm PDT / 5pm EDT on July 30, 2019 at www.apple.com/investor/earnings-call/. This webcast will also be available for replay for approximately two weeks thereafter.
Source: Apple Inc.
MacDailyNews Take: Ta-da!
AAPL after hours: $215.61, +$6.83, (+3.27%) @ 4:36PM EDT
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Thank you.
Another story posted about how Huawei phones had a terrible quarter, because of Trump’s actions.
Why are you posting 2018 numbers?
Huawei claims to have had a great quarter, with 23% YTY growth in smartphone sales. Whether that’s a real number, and if real, how much is due to channel-stuffing, is anybody’s guess. It’s not publicly-listed, and even if publicly-listed, its numbers are subject to the same issues as the rest of China’s publicly-listed stocks - pay-for-play auditors.
https://www.cnn.com/2019/07/30/tech/huawei-earnings-first-half/index.html
https://www.reuters.com/article/us-china-auditor-scandal/clouds-over-big-chinese-auditor-derail-ipo-fundraising-plans-of-others-idUSKCN1UP0QE
Given that it’s basically an arm of the Chinese government, it’s unlikely to run into financial issues even if loses money hand over fist. Uncle Xi will foot the bill.
For YTY comparisons with the excerpt posted.
Oddly enough, Macs and iPads were a bright spot.
Oh good, they’re still in business! /s
The previous year, same quarter, profits were up 32% YTY. This quarter’s profits are down to $10b vs $11.5b YTY. And last year, revenues were up 17% YTY.
https://money.cnn.com/2018/07/31/technology/apple-q3-earnings/index.html
https://sanfrancisco.cbslocal.com/2019/07/30/sagging-iphone-sales-blamed-for-sharp-drop-in-apple-profits/
Looks like this past quarter, services weren’t able to take up the slack in either revenue or profit contribution. YTY services growth slowed from 31% to 20%.
That said, I think CEO Tim Cook is a horse's ass but obviously there are still plenty of people at work keeping Apple great.
Our Costco has 2 or 3 tables devoted to Apple products...
A thousand BestBuy stores are not authorized Apple repair stations. . . That means you can take your Apple product into a BestBuy and get Apple Store level servicing, both warranty and post-warranty. Probably not as good as in an Apple Store where you it’s possible to be given a new product to satisfy your problems, but still good.
A thousand BestBuy stores are not authorized Apple repair stations. . . NOW. . . Damn, it, not “not”. . . Damnit, I hate autocorrect.
WOW! It did it again! It was clearly “. . . now authorized Apple. . .” and when it finished posting it was “. . . not authorized Apple. . .” Strange.
[Looks like the usual socialist-Democrats are coming to this thread to throw water on this good news for Apple.]
Whatever it is you are smoking, put it down.
Sorry for the long delay.
Huawei reported that their smartphone sales were up 23% for the first half.
Smartphone sales were reported up 39% in the first quarter - but no number was given for the second.
It had to be a significant slowing of growth, to average the first half down from the first quarter.
The second quarter is when the Trump Administration jammed up their component supply. Apple phones had an unusually good second quarter.
Impressive!
Good fir them!
Thanks, Sword.
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