Apple has announced its latest financial results but it is its guidance for the next quarter which is the most interesting figure with the iPhone maker predicting huge sales thanks to the expected launch of the iPhone 6.
Apple Q3 Earnings Snapshot
- Revenue $37.4bn
- Profit $7.7bn
- 35.2 million iPhones
- 13.2 million iPads
- 4.4 million Macs
- 2.9 million iPods
Apple's revenue and sales were close to the expectations of Wall Street analysts but will do little to excite investors as Apple's June quarter is typically one where the company sees a lull ahead of its annual release of new iPhones and iPads - the company's real revenue drivers.
iPhone and Mac sales were both slighly up on the same period in 2013 but iPad and iPod sales were down compared to Q3 2013.
iPhone revenue makes up about 50% of Apple's overall revenue with iPad and Mac sales making up just shy of one third of total revenue with iTunes, iPod, software and Apple TV making up the rest.
Here's Apple CEO Tim Cook's take on the previous quarter:
"Our record June quarter revenue was fuelled by strong sales of iPhone and Mac and the continued growth of revenue from the Apple ecosystem, driving our highest EPS growth rate in seven quarters. We are incredibly excited about the upcoming releases of iOS 8 and OS X Yosemite, as well as other new products and services that we can't wait to introduce."
Looking forward to the current quarter Apple has given a revenue quidance of between $37 billion and $40 billion, which was at the low end of what was expected by analysts. Apple predicts profit margins between 37% and 38%.