Apple Q3 2017: 41 Million iPhones Sold, $45.4 Billion in Revenue

Apple has announced their 2017 Q3 earnings, selling 41 million iPhones with quarterly revenue of $45.4 billion, with international sales accounting for 61% of the quarter’s revenue.

Apple’s fiscal third quarter by device sales:
• 41 million iPhones (2% YoY increase)
• 11.4 million iPads (15% YoY increase; first time since 2013)
• 4.29 million Mac computers (1% YoY increase)

“With revenue up 7 percent year-over-year, we’re happy to report our third consecutive quarter of accelerating growth and an all-time quarterly record for Services revenue,” said Tim Cook, Apple’s CEO. “We hosted an incredibly successful Worldwide Developers Conference in June, and we’re very excited about the advances in iOS, macOS, watchOS and tvOS coming this fall.”

“We reported unit and revenue growth in all our product categories in the June quarter, driving 17 percent growth in earnings per share,” said Luca Maestri, Apple’s CFO. “We also returned $11.7 billion to investors during the quarter, bringing cumulative capital returns under our program to almost $223 billion.”

Apple is providing the following guidance for its fiscal 2017 fourth quarter:

  • revenue between $49 billion and $52 billion
  • gross margin between 37.5 percent and 38 percent
  • operating expenses between $6.7 billion and $6.8 billion
  • other income/(expense) of $500 million
  • tax rate of 25.5 percent

…more to follow