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Technology / Networks

Apple’s Q3 net income declines 22%

Apple has posted a net income of $6.9bn during the third-quarter ended 29 June 2013, a decline of 22% compared to $8.82bn it recorded during the same period last year, despite record sales of its flagship product iPhone.

Net sales increase marginally to $35.32bn compared to $35.02bn in 2012, of which international sales accounted for 57% while net sales fell in all geographical areas except the Americas.

Operating income declined to $9.2bn compared to $11.57bn in last year, while total operating expenses were $3.82bn compared to $3.42bn it recorded during corresponding quarter in 2012

During the quarter, the company sold 31.2 million iPhones, compared to 26 million in the same quarter a year ago.

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Apple also sold 14.6 million iPads during the quarter, compared to 17 million in the year-ago quarter, while 3.8 million Macs were sold during the quarter, compared to 4 million in the year-ago quarter.

Apple CEO Tim Cook said the company had a record June quarter iPhone sales of over 31 million and the strong growth in revenue from iTunes, Software and Services.

"We are really excited about the upcoming releases of iOS 7 and OS X Mavericks, and we are laser-focused and working hard on some amazing new products that we will introduce in the fall and across 2014."

Apple CFO Peter Oppenheimer said: "We generated $7.8bn in cash flow from operations during the quarter and are pleased to have returned $18.8bn in cash to shareholders through dividends and share repurchases."


This article is from the CBROnline archive: some formatting and images may not be present.

CBR Staff Writer

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