Apple sees record iPhone sales as profit falls $2m - PC Retail

Apple sees record iPhone sales as profit falls $2m

Tech giant reveals financial results for the three months ending June 29th, 2013
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Apple sold a record 31.2 million iPhones during its fiscal third quarter for 2013 - up 5.2 million year-on-year.

However, quarterly net profit during the three months ending June 29th, 2013, fell almost $2 million to $6.9 million, down from the $8.8 million made during Q3 2012.

Gross margin was 36.9 per cent compared to 42.8 per cent in the same period last year.

Apple sold 14.6 million iPads and 3.8 million Macs during Q3 2013, down from last year's 17 million and four million respectively.

Apple’s Board of Directors has declared a cash dividend of $3.05 per share - payable to shareholders on August 15th. 

“We are especially proud of our record June quarter iPhone sales of over 31 million and the strong growth in revenue from iTunes, Software and Services,” said Apple CEO Tim Cook.

“We are really excited about the upcoming releases of iOS 7 and OS X Mavericks, and we are laser-focused and working hard on some amazing new products that we will introduce in the fall and across 2014.”

Apple CFO Peter Oppenheimer added: "We generated $7.8 billion in cash flow from operations during the quarter and are pleased to have returned $18.8 billion in cash to shareholders through dividends and share repurchases."

Apple expects revenues of between $34 and $37 billion during its fourth quarter for 2014, and gross margins of around 36 to 37 per cent.

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