Apple FY19 Q3 Earnings: $53.8 Billion In Revenue, Best June Quarter Ever

Apple has announced financial results for its 3Q 2019 that is ended on June 30, 2019. The Company posted quarterly revenue of $53.8 billion, an increase of 1 percent from the year-ago quarter, along with a net quarterly profit of $10 billion, and quarterly earnings per diluted share of $2.18. In contrast, Apple earned a revenue of $53.3 billion and a net quarterly profit of $11.5 billion, or $2.34 per diluted share, in the year-ago quarter.

Although Apple's earnings report no longer include hardware unit sales, what we do know is the YoY growth, in which the Mac saw 11% growth, wearables with a impressive 48% growth, Services with a 13% growth, and iPad with a 8% growth, while iPhone sees a 12% decline, despite the significant improvement it made:
“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.”
As for its fiscal 2019 third quarter, Apple provided the following guidance:
  • 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

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