Apple Q3 revenues surpass US$35bn, sells 26m iPhones and 17m iPads

24 Jul 2012

Apple CEO Tim Cook

Tech giant Apple has reported Q3 revenues of US$35bn and a US$8.8bn profit. CEO Tim Cook revealed that the company will also release its latest OS, Mountain Lion, tomorrow.

The performance compares with revenues of US$28.6bn and net profit of US$7.3bn during the same quarter last year.

Apple sold 26m iPhone devices in the quarter, up 28pc year-on-year and 17m iPad devices, up 84pc year-on-year. Apple sold 4m Macs during the quarter, a 2pc unit increase over last year and it sold 6.8m iPods, a 10pct unit decline from a year ago.

“We’re thrilled with record sales of 17m iPads in the June quarter,” said Tim Cook, Apple’s CEO.

“We’ve also just updated the entire MacBook line, will release Mountain Lion tomorrow and will be launching iOS 6 this fall. We are also really looking forward to the amazing new products we’ve got in the pipeline.”

Gross margin was 42.8pc compared to 41.7pc last year. International sales accounted for 62pc of the quarter’s revenue.

“We’re continuing to invest in the growth of our business and are pleased to be declaring a dividend of $2.65 per share today,” said Peter Oppenheimer, Apple’s CFO.

“Looking ahead to the fourth fiscal quarter, we expect revenue of about US$34bn and diluted earnings per share of about US$7.65.”

The results come at the end of an eventful day for Apple: pre-trial talks with Samsung over patents collapsed as Apple seeks US$2.5bn in damages from its Korean rival, a German court upheld a ban on Samsung tablet computers in Europe,and rumours gained pace that Apple will launch a new smaller connector with its next iPhone device.

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years