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Apple Q3 Net falls 22%; posts record iPhone sales in June quarter

Last Updated: Wednesday, July 24, 2013 - 22:12

New York: US tech major Apple has reported 22 percent fall in consolidated net profit at USD 6.9 billion for the third quarter ended June 29, 2013, despite selling record 31.2 million iPhones during the quarter.

The California-based firm had reported a net profit of USD 8.8 billion in the year-ago period, Apple said in a release.

Apple's fiscal year 2013 runs from September 30, 2012 to September 28, 2013.

The world's largest technology firm's consolidated net sales rose marginally to USD 35.3 billion in the April-June quarter of FY2013 against USD 35 billion in the same quarter of FY 2012.

While, Americas and Japan reported increase in revenues, the firm's sales in Europe, Greater China and Rest of Asia Pacific declined.

For the fourth quarter, Apple said it expects revenues in the range of USD 34-37 billion.

The firm sold 31.2 million iPhones, a record for the June quarter, compared to 26 million in the year-ago quarter, it said.

Apple saw fall in iPad and Mac sales during the June quarter. It sold 14.6 million iPads during the quarter, compared to 17 million in the year-ago period. The company sold 3.8 million Macs, compared to 4 million in the corresponding quarter, it added.

Commenting on the third quarter results, Apple CEO Tim Cook said: "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."

The company generated USD 7.8 billion in cash from operations during the quarter and is pleased to have returned USD 18.8 billion in cash to shareholders through dividends and share repurchases, Apple CFO Peter Oppenheimer said.

On outlook Cook said: "We are really excited about the upcoming releases of iOS7 and OS X Mavericks, and we are laser-focused and working hard on some amazing new products that will be introduced in the fall and across 2014."

Apple declared a cash dividend of USD 3.05 per share of the company's common stock. The dividend is payable to shareholders on August 15, 2013.


First Published: Wednesday, July 24, 2013 - 08:56
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