Apple Announces Q3 2016 Earnings: $42.4 Billion in Revenue, $7.8 Billion in Profit [Chart]

Apple Announces Q3 2016 Earnings: $42.4 Billion in Revenue, $7.8 Billion in Profit [Chart]

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Apple today announced earnings for its fiscal third quarter ending June 25, 2016.

The Company posted quarterly revenue of $42.4 billion and quarterly net income of $7.8 billion, or $1.42 per diluted share. These results compare to revenue of $49.6 billion and net income of $10.7 billion, or $1.85 per diluted share, in the year-ago quarter. Gross margin was 38 percent compared to 39.7 percent in the year-ago quarter. International sales accounted for 63 percent of the quarter’s revenue.

“We are pleased to report third quarter results that reflect stronger customer demand and business performance than we anticipated at the start of the quarter,” said Tim Cook, Apple’s CEO. “We had a very successful launch of iPhone SE and we’re thrilled by customers’ and developers’ response to software and services we previewed at WWDC in June.”

“Our Services business grew 19 percent year-over-year and App Store revenue was the highest ever, as our installed base continued to grow and transacting customers hit an all-time record,” said Luca Maestri, Apple’s CFO. “We returned over $13 billion to investors through share repurchases and dividends, and we have now completed almost $177 billion of our $250 billion capital return program.”

Year over year iPhone units were down 15%, iPad units were down 9%, and Mac units were down 11%. Revenue was down 23% for iPhone, up 7% for iPad, down 13% for Mac, up 19% for services, and down 16% for other products.

Apple is providing the following guidance for its fiscal 2016 fourth quarter:
● revenue between $45.5 billion and $47.5 billion
● gross margin between 37.5 percent and 38 percent
● operating expenses between $6.05 billion and $6.15 billion
● other income/(expense) of $350 million
● tax rate of 25.5 percent

Apple’s board of directors has declared a cash dividend of $.57 per share of the Company’s common stock. The dividend is payable on August 11, 2016 to shareholders of record as of the close of business on August 8, 2016.

Apple will provide live streaming of its Q3 2016 financial results conference call beginning at 2:00 p.m. PDT on July 26, 2016 at www.apple.com/investor/earnings-call/.


Apple Announces Q3 2016 Earnings: $42.4 Billion in Revenue, $7.8 Billion in Profit [Chart]
Gal - July 27, 2016 at 12:44pm
Get a job. Get a life
iMoroniPhone - July 26, 2016 at 9:10pm
Apple is done. Pack your old technology and join blackberry. Android will take over soon. Once they perfected their OS, then I promise you, apple will be done. Apple is nothing more than a name to a software nothing more. The build quality and their high prices for crappy no innovation product. The innovation was when the 4S came out, after that, its done! The company is so desperate to sell phones they used recycled iphone 5 to make up for the SE so they dont loose money. What a joke. I hope this company goes down in history just like the blackberry, they had it, it was the only thing people used, and forgot about it. Its where Android sits now that matter, a platform that is full of possibilities and people can make more things to a project and use. Its called innovation, not being stuck with a locked OS that cant do nothing. Also a crazy price Macbook Pro laptop that uses PC based (cough Intel) and with the nice lack of software on it. That too wont make nothing. Oh poor mans excuse is, well whatever it does come with works flawlessly. You guys think that iPhone never crashes. I have all the iPhone all the way up to the iPhone 6S. They are all the same crap, only things has changed is the speed and the crappy metal design. Which of course copied the designed from HTC lets not forget the lines in the back. Im sure the same guy here will come and comment to this comment, because he likes trolling on here trying to defend apple, and if he does comment, I say this when he does, he is a gay as TIM COOK is :) Dare to comment. And you accept that you are gay ;)
qwerty qwertz - July 27, 2016 at 11:09pm
Why do you hope Apple goes down? Competition is good, you know. I also don't like policy from apple but I always have a choice to purchase different product. And as long I have that option and rest of the people, we should be happy. To make it simple for you: If you don't like it, don't buy it. BTW, like Android Samsung smartphone are any better as far as locked system goes? That locked bootloader on snapdragon is ridiculous. Just saying.
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