Apple reports Q3 2019 revenue of $53.8 billion

Keeping up with tradition, Apple has officially announced the latest quarterly earnings, revealing how well the company has been doing over the last few months.

Apple on Tuesday announced the third fiscal quarterly earnings for 2019. The company’s total revenue for the three-month period was $53.8 billion. That’s compared to the $53.3 billion it made in the third quarter of 2018. And as is par for the course with Apple’s latest quarterly earnings, the company is not divulging any specific details regarding device sales.

Apple earned $10.04 billion in total profit over the three-month stretch. And in the next quarterly earning, Apple says it expects to earn between $61 and $64 billion.

Apple’s statement regarding the latest earnings:

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

And Apple’s CEO, Tim Cook, weighing in:

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,” said Tim Cook, Apple’s CEO. “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.

Along with Apple’s CFO, Luca Maestri:

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

This isn’t Apple’s greatest quarterly earnings report, but it’s still a solid three months by most measures. But of course the company has to look ahead, and has offered projections for the next quarterly report in a few months from now:

  • revenue between $61 billion and $64 billion
  • gross margin between 37.5 percent and 38.5 percent
  • operating expenses between $8.7 billion and $8.8 billion
  • other income/(expense) of $200 million
  • tax rate of approximately 16.5 percent