Wednesday, 31 July 2019 08:42

Apple naysayers slayed as company revenue sets June Quarter record

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If you're an Apple doomsayer, the company keeps playing you like a fiddle with its stellar results, unparalleled product line, app and hardware ecosystem, high quality customers and meaningful profits that propel the company and its users forward.

Do you read articles proclaiming doom and gloom for Apple? Aren't you sick of reading such garbage day in, day out, month in, month out, quarter in, quarter out, year in, year out, decade in and decade out?

Apple is the most successful technology company of all time, and despite being 40 years old, is still at the beginning of the true technological revolution, given we are still in the B&W era of true modern technology, especially when you read what is coming via the realms of science fiction.

After all, it was only 12 years ago that the first iPhone emerged, with the mobile phone era easily divided between the pre-iPhone era, and the 12 years we've enjoyed after its arrival.

With such success comes incredible hate and jealously by small minded types, as seen by a never-ending flood of click-bait Apple articles, mostly negative, from the usual suspects who know better but write rubbish anyway. Shame on them!

So, what are Apple's latest record-breaking results?

Well, Apple has announced financial results for its fiscal 2019 third quarter ended June 29, 2019, and reports "quarterly revenue of $53.8 billion, an increase of 1% from the year-ago quarter, and quarterly earnings per diluted share of $2.18, down 7%. International sales accounted for 59% of the quarter’s revenue".

Apple CEO Tim Cook said: "This was our biggest June quarter ever — driven by all-time record revenue from Services, accelerating growth from Wearables, strong performance from iPad and Mac and significant improvement in iPhone trends.

“These results are promising across all our geographic segments, and we’re confident about what’s ahead. The balance of calendar 2019 will be an exciting period, with major launches on all of our platforms, new services and several new products.”

Apple CFO, Luca Maestri said: "Our year-over-year business performance improved compared to the March quarter and drove strong operating cash flow of $11.6 billion.

“We returned over $21 billion to shareholders during the quarter, including $17 billion through open market repurchases of almost 88 million Apple shares, and $3.6 billion in dividends and equivalents.”

Apple has provided the following guidance for its fiscal 2019 fourth quarter:

  • Revenue between $61 billion and $64 billion
  • Gross margin between 37.5% and 38.5%
  • Operating expenses between $8.7 billion and $8.8 billion
  • Other income/(expense) of $200 million
  • Tax rate of approximately 16.5%

Apple reports its board of directors "has declared a cash dividend of $0.77 per share of the Company’s common stock. The dividend is payable on August 15, 2019 to shareholders of record as of the close of business on August 12, 2019".

Live streaming of Apple's Q3 2019 financial results conference call will be available at Apple here for replay for approximately two weeks.

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Alex Zaharov-Reutt

Alex Zaharov-Reutt is iTWire's Technology Editor is one of Australia’s best-known technology journalists and consumer tech experts, Alex has appeared in his capacity as technology expert on all of Australia’s free-to-air and pay TV networks on all the major news and current affairs programs, on commercial and public radio, and technology, lifestyle and reality TV shows. Visit Alex at Twitter here.

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