Raymond James Upgrades Apple (AAPL) to Outperform
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Apple Reports Third Quarter Results
July 26, 2016 4:30 PM EDTServices Revenue Grows 19% as App Store Hits All-Time Record
CUPERTINO, Calif.--(BUSINESS WIRE)-- Apple® today announced financial results for its fiscal 2016 third quarter ended June 25, 2016. The Company posted quarterly revenue of $42.4 billion and quarterly net income of $7.8 billion, or $1.42 per diluted share. These results compare to revenue of $49.6 billion and net income of $10.7 billion, or $1.85 per diluted share, in the year-ago quarter. Gross margin was 38 percent compared to 39.7 percent in the year-ago quarter. International sales accounted for 63 percent of the quarters revenue.
We are pleased to report third quarter results that reflect stronger customer demand... More
