Record iPhone and Mac sales help lift Apple’s Q3 profits to $10.7bn

Apple today announced financial results for its fiscal 2015 third quarter ending June 27th 2015.

The company posted quarterly revenue of $49.6 billion and quarterly net profit of $10.7 billion, or $1.85 per diluted share.

These results compare to revenue of $37.4 billion and net profit of $7.7 billion, or $1.28 per diluted share, in the year-ago quarter.

Gross margin was 39.7 percent compared to 39.4 percent in the year-ago quarter. International sales accounted for 64 per cent of the quarter’s revenue.

Apple says the growth was fuelled by record Q3 sales of iPhone and Mac. As expected, it didn’t mention specific sales performance details around the Apple Watch, but analysts expect four million units have been sold so far.

“We had an amazing quarter, with iPhone revenue up 59 per cent over last year, strong sales of Mac, all-time record revenue from services, driven by the App Store, and a great start for Apple Watch,” said Tim Cook, Apple’s CEO.

“The excitement for Apple Music has been incredible, and we’re looking forward to releasing iOS 9, OS X El Capitan and watchOS 2 to customers in the fall.”

“In the third quarter our year-over-year growth rate accelerated from the first half of fiscal 2015, with revenue up 33 per cent and earnings per share up 45 per cent,” said Luca Maestri, Apple’s CFO.

“We generated very strong operating cash flow of $15 billion, and we returned over $13 billion to shareholders through our capital return program.”

Apple’s board of directors has declared a cash dividend of $.52 per share of the company’s common stock. The dividend is payable on August 13th to shareholders as of the close of business on August 10th.

Apple is providing the following guidance for its fiscal 2015 fourth quarter: revenue between $49 billion and $51 billion, gross margin between 38.5 per cent and 39.5 per cent, operating expenses between $5.85 billion and $5.95 billion, other income of $400 million and a tax rate of 26.3 per cent.

There’s a livestream of Apple’s Q3 2015 financial results conference call which can be found at

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