Apple Announces Q3 FY 2018 Results

Apple Announces Q3 FY 2018 Results

This afternoon, Apple announced their earnings for the third quarter of the 2018 fiscal year, and as we’ve all come to expect, they did very well again. Revenue for the quarter was up 17% year-over-year to $53.3 billion. Margins were a very healthy 38.3%, although down slightly from 38.5% last year. Operating income for the quarter was $12.6 billion, with a net income of $11.5 billion. This resulted in earnings per share of $2.34, up from $1.67 a year ago.

Apple Q3 2018 Financial Results (GAAP)
  Q3'2018 Q2'2018 Q3'2017
Revenue (in Billions USD) $53.265 $61.137 $45.408
Gross Margin (in Billions USD) $20.421 $23.422 $17.488
Operating Income (in Billions USD) $12.612 $15.894 $10.768
Net Income (in Billions USD) $11.519 $13.822 $8.717
Margins 38.3% 38.3% 38.5%
Earnings per Share (in USD) $2.34 $2.73 $1.67

As usual, the iPhone continues to be the major source of revenue for the company. This quarter, Apple sold 41.3 million iPhones, which is up 1% from the same quarter a year ago, but revenue for iPhone was up an impressive 20%, meaning the higher priced models are selling well. Average sales price for an iPhone is now $724.12, which is much higher than in the past. Just a year ago, the ASP was barely over $600, and two years ago it was $595.26. This is a pretty significant jump.

Apple Announces Q3 FY 2018 Results

3 months ago - 5:15 PM EST - Tue, Jul 31, 2018

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