Apple Q3 2018 Earnings: Best June Quarter Ever, 41.3 Million iPhones Sold, Made $53.3 Billion In Revenue
Another quarter, year of Apple making more anyone really thought possible. Apple has just released its Q3 2018 results and they make for mind boggling reading; $53.3 billion in revenue and $11.5 billion in profit thanks to selling 41.3 million iPhones, 11.55 million iPads, and 3.7 million Macs.
For reference, Apple had previously suggested revenue guidance between $51.5 billion and $53.5 billion.
Of course, all of this needs some context in order to really allow people to build a picture as to how Apple is doing right now, so let’s look at the same quarter in 2017; $45.4b in revenue, $8.72 billion profit, 41 million iPhones, 11.4 million iPads, and 4.29 million Macs sold. A huge increase in revenue and profit is not to be sniffed at! Moving on to the previous quarter, Apple saw $61.1 billion in revenue, $13.8 billion in profit, 52.2 million iPhones, 9.1 million iPads, and 4.07 million Macs sold.
Looking forward, Apple thinks that it should be capable of between $60 billion and $62 billion for Q4.
Tim Cook, Apple CEO, is predictably happy with the results.
“We’re thrilled to report Apple’s best June quarter ever, and our fourth consecutive quarter of double-digit revenue growth,” said Tim Cook, Apple’s CEO. “Our Q3 results were driven by continued strong sales of iPhone, Services and Wearables, and we are very excited about the products and services in our pipeline.”
Luca Maestri, Apple’s CFO also pointed to the $25 billion that Apple returned to investors.
“Our strong business performance drove revenue growth in each of our geographic segments, net income of $11.5 billion, and operating cash flow of $14.5 billion,” said Luca Maestri, Apple’s CFO. “We returned almost $25 billion to investors through our capital return program during the quarter, including $20 billion in share repurchases.”