Apple Q3 2014 results: $7.7B in profit, 35.2M iPhones sold, and new products teased
Ahead of autumn product launches, Apple has once again reported third-quarter earnings. The results aren't too much different from what analysts had expected.
Apple reported earnings of $1.28 per share, on revenue of $37.4 billion. Although net profits fell to $7.4 billion, revenue figures hit the company's own forecast of somewhere between $36 billion and $38 billion.
Wall Street had forecasted $1.23 a share, on $37.99 billion in revenue. Keep in mind that Apple's stock split took hold in June, and that's why it had $7.47 per share (on $35.3 billion) in the year-ago quarter.
As for device sales, Apple said it sold 35.2 million iPhones. That's 4 million more units sold when compared to the same quarter last year. Apple also sold 13.27 million iPads (a dip from from 14.6 million last year), and 4.4 million Macs during the quarter.
Apple typically has a lull when it comes to Q3 revenues, mostly because consumers are waiting for new product models - mostly notably the iPhone - that hystorically launch in Q4. Revenue and sales are often higher in both the first and fourth quarters.
Tim Cook, chief executive officer at Apple, said in a press relase however that Apple had a record June quarter fueled by "strong sales of iPhone and Mac and the continued growth of revenue from the Apple ecosystem."
In his earnings statement, Cook also looked forward: “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," he added.
Check out Apple's live-streamed conference call at 2 PM PST. Cook and other Apple executives will probably talk more about what's next for the company, without giving away too many details of course.
Apple's share price has dropped below $94 in after-hours trading.