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Apple posts “best June quarter ever”

August 1, 2018

Apple has announced financial results for its fiscal 2018 third quarter ended June 30th. The tech company posted quarterly revenue of $53.3 billion, an increase of 17 per cent from the year-ago quarter, and quarterly earnings per diluted share of $2.34, up 40 per cent. International sales accounted for 60 per cent of the quarter’s revenue.

“We’re thrilled to report Apple’s best June quarter ever, and our CC growth,” said Tim Cook, Apple’s CEO. “Our Q3 results were driven by continued strong sales of iPhone, Services and Wearables, and we are very excited about the products and services in our pipeline.”

Cook also revealed that sales of its Apple TV streaming device reached double-digits for the first time in several years. The compnay is making major pushes wih its TV business as it seeks to become a genuine competitor to the likes of Netflix and Amazon in the near future.

“Our strong business performance drove revenue growth in each of our geographic segments, net income of $11.5 billion, and operating cash flow of $14.5 billion,” added Luca Maestri, Apple’s CFO. “We returned almost $25 billion to investors through our capital return program during the quarter, including $20 billion in share repurchases.”

Categories: Articles, Business, Results