Apple, Inc. (AAPL) Tops Q3 EPS by 5c, Sales Light
(Updated - July 22, 2014 4:34 PM EDT)
Apple, Inc. (NASDAQ: AAPL) reported Q3 EPS of $1.28, $0.05 better than the analyst estimate of $1.23. Revenue for the quarter came in at $37.4 billion versus the consensus estimate of $37.99 billion.
“Our record June quarter revenue was fueled by strong sales of iPhone and Mac and the continued growth of revenue from the Apple ecosystem, driving our highest EPS growth rate in seven quarters,” said Tim Cook, Apple’s CEO. “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.”
“We generated $10.3 billion in cash flow from operations and returned over $8 billion in cash to shareholders through dividends and share repurchases during the June quarter,” said Luca Maestri, Apple’s CFO. “We have now taken action on over $74 billion of our $130 billion capital return program with six quarters remaining to its completion.”
Apple sees Q4 revenue between $37 billion and $40 billion, versus the consensus of $40.44 billion. The company sees gross margin between 37 percent and 38 percent.
Apple sold 35.2 million iPhone units in the quarter versus consensus of about 34-34.5 million and 13.3 million iPad units, versus the consensus of about 14.3 million.
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