(CUPERTINO) – On Tuesday, Apple announced its financial results for the third quarter of FY 2014 that ended on June 28, 2014. The company reported a revenue of USD 37.4 billion in Q3, while its net profit was recorded at around USD 7.7 billion, or USD 1.28 per share. In the same quarter of the last year, the company reported a revenue of USD 35.3 billion, alongside a net profit of USD 6.9 billion, or USD 1.07 per share.
Moreover, the gross margin was estimated to be around 39.4%, which was 36.9% in last year’s same quarter. Also, the international sales of the company made up 59% of the revenue of the quarter.
Tim Cook, the CEO of Apple, said, “Our record June quarter revenue was fueled 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.”
Luca Maestri, the CFO of Apple, said, “We generated USD 10.3 billion in cash flow from operations and returned over USD 8 billion in cash to shareholders through dividends and share repurchases during the June quarter. We have now taken action on over USD 74 billion of our USD 130 billion capital return program with six quarters remaining to its completion.”
With its release of third quarter results, Apple has also provided some guidance for the upcoming fourth quarter. The company expects its revenue to be between USD 37 and USD 40 billion, while the gross margin is expected to be between 37 and 38%. The operating expenses of the company would lie between USD 4.75 billion and USD 4.85 billion, while the tax rate is expected to be around 26.1%.
Earlier, the company reported a revenue of USD 45.6 billion in the second quarter of FY 2014. Moreover, a net profit of USD 10.2 billion or USD 11.62 per share was also reported. The International sales made up around 66% of the revenue of the quarter.