Apple growth driven by China, iPad sales fall
Source: View: 247 Date: 2014-07-24

Apple late Tuesday reported record fiscal third quarter revenue driven by strong iPhone and Mac sales, but iPad sales were notably lower.

In the three months ended 30 June, Apple shipped 35.2 million iPhones, up 31.2 million in the year-ago quarter. Mac shipments increased 17.6% to 4.4 million; however, iPad sales fell to 13.3 million 14.6 million.

Apple will hope that its recently-announced enterprise mobility partnership with IBM, as well as an expected new iPad later in the year, will inject new growth into its tablet line-up.

Meanwhile, Apple’s revenue was up on-year to $37.4 billion $35.3 billion. On a regional basis, Greater China saw the strongest growth, with revenues there growing by 27.9% to $5.9 billion. The Americas and Japan were broadly flat at $14.6 billion and $2.6 billion respectively. Revenues in Europe grew to $8.1 billion $7.6 billion.

"Our record June quarter revenue was fuelled by strong sales of iPhone and Mac and the continued growth of revenue the Apple ecosystem," said Apple CEO Tim Cook, in a statement.

Apple’s fiscal Q3 profit grew to $7.7 billion $6.9 billion in Q3 2013, while earnings per diluted share increased 19.6% to $1.28.

"We generated $10.3 billion in cash flow operations and returned over $8 billion in cash to shareholders through dividends and share repurchases during the June quarter," noted Luca Maestri, Apple’s CFO. "We have now taken action on over $74 billion of our $130 billion capital return programme with six quarters remaining to its completion."

Apple declared a cash dividend of $0.47 per common share payable on 14 August.


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