The 3rd quarter is finished and already Apple has announced their new numbers. Even though the numbers are somewhat weaker than in the second quarter, Apple was able to increase their profits when compared to the corresponding quarter in 2011: $ 35 billion in revenues and a whopping $ 8.8 billion profit. In the 2nd quarter Apple’s profit was $ 11.6 billion and $ 39.2 billion in revenues, but in comparison to last year Apple’s revenue and profit numbers were down at $ 28.6 billion in sales and $7.3 billion in profit in the third quarter of 2011. Thecontinues to bring in the bulk of the bacon and the pushes the numbers up further. Apple’s former bestseller, the iPod, continues to lose. Afterall, who needs an iPod when they have an iPhone?
Apple sold 26 million iPhones in this quarter (+28% on-year) and 17 million iPads (+84%). Compared to the second quarter of this year, iPhone sales decreased bymillion units. This is not simply the “We are waiting for the iPhone 5″ effect. A number of likely Apple customers have turned to the Samsung and other smartphones. Mac sales were only 2% to 4 million units, while sales of desktops declined by 13% – which should be mainly attributed to the Mac Pro, the upgrade is long overdue. Speaking of Macs: Tim Cook confirmed that the release date for Mac OS X Lion Mountain is tomorrow. The iPod continues to go down: 10% less were sold than last quarter: only 6.8 million units.
The causes of the decline in iPhone sales from the second quarter of 2012 can be discussed at length. There is probably no single cause: from the so-called “euro crisis” (at least 62% of Apple’s sales are outside the U.S.), waiting on the iPhone 5, and Samsung and the Galaxy S3 have certainly taken a share of Apple’s profits. Despite this very significant decline in sales, it is totally different from a disappointing result. Shareholders can look forward to a dividend of $ 2.65 per share.
Here is the complete press release from Apple:
Apple Reports Third Quarter Results
17 Million iPads Sold
CUPERTINO, Calif., Jul 24, 2012 (BUSINESS WIRE) — –Board Declares Quarterly Dividend of $2.65 per Common Share
Apple(R) today announced financial results for its fiscal 2012 third quarter ended June 30, 2012. The Company posted quarterly revenue of $35.0 billion and quarterly net profit of $8.8 billion, or $9.32 per diluted share. These results compare to revenue of $28.6 billion and net profit of $7.3 billion, or $7.79 per diluted share, in the year-ago quarter. Gross margin was 42.8 percent compared to 41.7 percent in the year-ago quarter. International sales accounted for 62 percent of the quarter’s revenue.
The Company sold 26.0 million iPhones in the quarter, representing 28 percent unit growth over the year-ago quarter. Apple sold 17.0 million iPads during the quarter, an 84 percent unit increase over the year-ago quarter. The Company sold 4.0 million Macs during the quarter, a two percent unit increase over the year-ago quarter. Apple sold 6.8 million iPods, a 10 percent unit decline from the year-ago quarter.
Apple’s Board of Directors has declared a cash dividend of $2.65 per share of the Company’s common stock. The dividend is payable on August 16, 2012, to stockholders of record as of the close of business on August 13, 2012.
“We’re thrilled with record sales of 17 million iPads in the June quarter,” said Tim Cook, Apple’s CEO. “We’ve also just updated the entire MacBook line, will release Mountain Lion tomorrow and will be launching iOS 6 this Fall. We are also really looking forward to the amazing new products we’ve got in the pipeline.”
“We’re continuing to invest in the growth of our business and are pleased to be declaring a dividend of $2.65 per share today,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the fourth fiscal quarter, we expect revenue of about $34 billion and diluted earnings per share of about $7.65.”
Apple will provide live streaming of its Q3 2012 financial results conference call beginning at 2:00 p.m. PDT on July 24, 2012 at www.apple.com/quicktime/qtv/earningsq312 . This webcast will also be available for replay for approximately two weeks thereafter.
This press release contains forward-looking statements including without limitation those about the Company’s estimated revenue and diluted earnings per share. These statements involve risks and uncertainties, and actual results may differ. Risks and uncertainties include without limitation the effect of competitive and economic factors, and the Company’s reaction to those factors, on consumer and business buying decisions with respect to the Company’s products; continued competitive pressures in the marketplace; the ability of the Company to deliver to the marketplace and stimulate customer demand for new programs, products, and technological innovations on a timely basis; the effect that product introductions and transitions, changes in product pricing or mix, and/or increases in component costs could have on the Company’s gross margin; the inventory risk associated with the Company’s need to order or commit to order product components in advance of customer orders; the continued availability on acceptable terms, or at all, of certain components and services essential to the Company’s business currently obtained by the Company from sole or limited sources; the effect that the Company’s dependency on manufacturing and logistics services provided by third parties may have on the quality, quantity or cost of products manufactured or services rendered; risks associated with the Company’s international operations; the Company’s reliance on third-party intellectual property and digital content; the potential impact of a finding that the Company has infringed on the intellectual property rights of others; the Company’s dependency on the performance of distributors, carriers and other resellers of the Company’s products; the effect that product and service quality problems could have on the Company’s sales and operating profits; the continued service and availability of key executives and employees; war, terrorism, public health issues, natural disasters, and other circumstances that could disrupt supply, delivery, or demand of products; and unfavorable results of other legal proceedings. More information on potential factors that could affect the Company’s financial results is included from time to time in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s public reports filed with the SEC, including the Company’s Form 10-K for the fiscal year ended September 24, 2011, its Forms 10-Q for the fiscal quarters ended December 31, 2011 and March 31, 2012, and its Form 10-Q for the quarter ended June 30, 2012 to be filed with the SEC. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.
Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital musicwith its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and is defining the future of mobile media and computing devices with iPad.