Apple Posts Quarterly Profit of $8.8 Billion, Sells 43 Million iPhones and iPads

Apple today announced financial results for its fiscal 2012 third quarter. The company posted quarterly revenue of $35 billion and quarterly net profit of $8.8 billion.

These results compare to revenue of $28.6 billion and net profit of $7.3 billion in the year-ago quarter. Gross margin was 42.8% compared to 41.7% in the year-ago quarter. 

Apple sold 26 million iPhones in the quarter, representing 28% unit growth. It also sold 17 million iPads during the quarter, an 84% increase. Four million Macs were sold for a 2% increase over the year-ago quarter, while 6.8 million iPods were sold—a 10% decline.

These numbers beat Apple's own estimates but barely met Wall Street expectations. Shares are down 5% in after hours trading.

Apple’s Board of Directors also declared a cash dividend of $2.65 per share, payable on August 16.

“We’re thrilled with record sales of 17 million iPads in the June quarter,” said Tim Cook, Apple’s CEO. “We’ve also just updated the entire MacBook line, will release Mountain Lion tomorrow and will be launching iOS 6 this Fall. We are also really looking forward to the amazing new products we’ve got in the pipeline.”

“We’re continuing to invest in the growth of our business and are pleased to be declaring a dividend of $2.65 per share today,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the fourth fiscal quarter, we expect revenue of about $34 billion and diluted earnings per share of about $7.65."

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Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes and author of Tempest Bound. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. Previously he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys hiking, tennis, and martial arts. more

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