Apple announces Q3 FY2014 financial results

AppleApple today announced its Q3 FY2014 financial results. Revenues came in at US$37.4 billion with net profits came in at US$7.7 billion, both of which were improvements over the same quarter a year ago. At 39.4 percent, gross margins were also up.

Over the quarter, Apple sold 35.2 million iPhones, 13.2 million iPads, 4.4 million Macs and 2.9 million iPods. While iPhone and Mac sales grew over the same quarter last year, both iPad and iPod sales dropped a bit.

“Our record June quarter revenue was fueled by strong sales of iPhone and Mac and the continued growth of revenue from the Apple ecosystem, driving our highest EPS growth rate in seven quarters,” said Tim Cook, Apple’s CEO. “We are incredibly excited about the upcoming releases of iOS 8 and OS X Yosemite, as well as other new products and services that we can’t wait to introduce.”

While the last quarter was relatively quiet on the product announcement side, Apple did acquire Beats Audio for US$3 billion and just announced a new partnership with IBM in the global enterprise mobility space. Things are unlikely to be as quiet next quarter with Apple expected to announce new iPhones, new iPads and likely the iWatch.

Apple expects revenues next month to fall in the US$37 billion to US$40 billion range with gross profit margins to fall slightly to 37 or 38 percent.

Source : Apple