CUPERTINO, Calif. – With consumers worldwide continuing their love affair with the large-screened iPhone 6, Apple on Tuesday reported record earnings for its third fiscal quarter, posting profits of $10.7 billion, or $1.85 per share, on revenue of $49.6 billion, compared with $1.40 a share on $37.4 billion in quarterly revenue a year earlier.
Apple attributed the strong showing to record-breaking sales of iPhones and Macs, along with strong revenue from services and the successful launch of Apple Watch. As expected, Apple did not release a breakdown of how many watches it sold.
Apple sold 47.5 million iPhones, nearly 11 million iPads and 4.8 million Macs. IPhone sales were up 35 percent from a year earlier, while quarterly profit surged 38 percent.
"We had an amazing quarter, with iPhone revenue up 59 percent over last year, strong sales of Mac, record revenue from services, driven by the App Store, and a great start for Apple Watch," said Tim Cook, Apple's CEO. "The excitement for Apple Music has been incredible, and we're looking forward to releasing iOS 9, OS X El Capitan and watchOS 2 to customers in the fall."
That performance was largely driven by strong iPhone sales, with consumers taking home nearly 50 million phones during the quarter, compared with 43.7 million sold in the same quarter a year earlier. Analysts had expected iPhone sales of 47 million.
"In the third quarter our year-over-year growth rate accelerated from the first half of fiscal 2015, with revenue up 33 percent and earnings per share up 45 percent," said Luca Maestri, Apple's CFO.
The results narrowly beat Wall Street's expectations, where analysts had expected a profit of $1.81 per share on revenue of $49.43 billion, according to Thomson Reuters. That compares with $1.28 a share and $37.43 billion a year earlier.
tribune news service