Apple has posted its earnings for the third fiscal quarter of 2012, with quarterly revenue of $35 billion and a net profit of $8.8 billion, both up nearly 20% year-over-year. It managed to improve its gross margins from 41.7% to 42.8% this quarter.
It sold 26 million iPhones this quarter, which was up 28% year-over-year, but fell short of analyst expectations which predicted 29 million iPhones unit sales. The lull in iPhone sales is because the iPhone 4S is now almost a year old, and consumers are holding out for the next iPhone which is expected to be launched in October.
It also sold 17 million iPads, which is significantly above the 15 million figure which consensus analyst estimates suggested. The iPad has been a huge hit globally, and the onslaught of cheaper tablets have failed to have much of an impact on its sales yet. That may change in the next quarter though, as we see the impact of the Nexus 7 tablet by Google.
Tim Cook, Apple’s CEO, said:
“We’re thrilled with record sales of 17 million iPads in the June quarter. 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.”
The “amazing new products” could very well be the iPhone 5 and the rumored iPad Mini. We shall know soon.
Apple also declared a dividend of $2.65 per share which will be payable to shareholders on August 16, 2012.
Another interesting fact — Apple now has over $117 billion in cash, cash equivalents and short term and long term marketable securities.