Apple Announces Q3 FY 2018 Results
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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)|
|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|
|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.
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