Apple Q3: iPhone Sales Up 20%, iPad Sales Down 14%
Apple just released its quarterly earnings results, and the company says it sold 31.2 million iPhones, a record for the quarter, and 14.6 million iPads last quarter.
The iPhone number compares to 26 million in the year-ago quarter, a 20% increase. The iPad number compares to 17 million in the year-ago quarter, a 14% drop. The company sold 3.8 million Macs in the quarter, compared to 4 million in the year-ago quarter.
Total revenue came in at $35.3 billion, which translated into $6.9 billion in net income, or $7.47 per share. Both top- and bottom-line figures topped the Street's best guesses. iPhone unit sales in particular were much better than expected, which helped ease the pain of weaker-than-expected iPad unit sales.
For the coming quarter, the Mac maker's guidance calls for sales in the range of $34 billion to $37 billion, with gross margin of 36% to 37%. The company also declared a quarterly dividend of $3.05 per share, the same amount it declared back in April. CFO Peter Oppenheimer noted that Apple has now returned a total of $18.8 billion in cash to shareholders through dividends and share repurchases.
Investors were pleased with the results, as shares are up 5% in after-market trading.
The article Apple Q3: iPhone Sales Up 20%, iPad Sales Down 14% originally appeared on Fool.com.Fool contributor Evan Niu, CFA owns shares of Apple. The Motley Fool recommends Apple. The Motley Fool owns shares of Apple. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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