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July 22, 2015

iPhone & Mac boost Apple’s Q3 revenue

iPhone sales increased 35% to 47.5 million units.

By CBR Staff Writer

Apple has reported double-digit growth in revenue and profit for its fiscal third quarter, largely thanks to strong sales of iPhone and Mac.

Revenue increased 33% to $49.6bn in Q3, compared to $37.4bn recorded during the corresponding quarter last year.

Net profit rose 38% to $10.7bn, or $1.85 per diluted share, compared to $7.7bn, or $1.28 per diluted share, for the same period last year.

Sales of iPhone units increased 35% to 47.5 million units in Q3, while Mac sales increased 9% to 4.79 million units. The iPad continued its decline, with sales dropping 18% to 10.93 million units.

The company generated operating cash flow of $15bn and returned more than $13bn to shareholders via its capital return programme.

Apple CEO Tim Cook said: "We had an amazing quarter, with iPhone revenue up 59 percent over last year, strong sales of Mac, all-time record revenue from services, driven by the App Store, and a great start for Apple Watch.

"The excitement for Apple Music has been incredible, and we’re looking forward to releasing iOS 9, OS X El Capitan and watchOS 2 to customers in the fall."

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Apple expects to record its revenue to be in the range of $49bn and $51bn during fourth quarter.

The company is estimated to have shipped over four million smartwatches in Q2, more than any other wearable vendors. Apple expects to ship 20 million devices by the end of this year.

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