Apple Reports Fiscal Year 2013 Third Quarter Financial Results, Sell Record Number of iPhones

Subject: General Tech | July 24, 2013 - 06:48 AM |
Tagged: OS X, mac, iphone, financial results, apple

Apple announced its financial results for its fiscal year 2013 Q3 yesterday, and it performed well. Note that Apple’s fiscal Q3 2013 quarter ended on July 29, 2013.

Apple reported fiscal Q3 2013 revenue of $35.3 billion, and net profit of $6.9 billion. That works out to $7.47 per diluted share. During this quarter, Apple held its annual WWDC, and announced new operating systems for both its mobile and desktop products. The company sold 31.2 million iPhones (a record for Q3) 14.6 million iPads, and 3.8 million Macs. It sold slightly fewer iPads and Macs than the same quarter last year, but significantly more iPhones.

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Compared to the same quarter last year, Apple increased overall revenue but saw less net profit and EPS. In fiscal Q3 2012 Apple has revenue of $35 billion, net profit of $8.8 billion, and EPS of $9.32 per diluted share. In FY Q3 2012, Apple sold 26 million iPhones, 17 million iPads, and 4 million Macs.

  FY'13 Q3 FY'12 Q3 (YoY) Future Outlook
Revenue $35.3 billion $35 billion $34 to $37 billion
Net Profit $6.9 billion $8.8 billion  
EPS $7.47 $9.32  
Gross Margin 36.9% 42.8% 36 to 37%
iPhones Sold 31.2 million 26 million  
iPads Sold 14.6 million 17 million  
Macs Sold 3.8 million 4 million  

Apple has announced, as a result of its third quarter performance, a $3.05 dividend per common stock to be paid on August 15, 2013. It had $7.8 billion cash flow in FY 2013 Q3 and returned $18.8 billion of cash to shareholders in the form of dividends and share repurchases.

According to Apple, the company's outlook for its fourth quarter is promising, with expected revenue between $34 billion and $37 billion with a gross margin of between 36% and 37%. Apple expects to release both iOS 7 and OS X Mavericks later this year along with new products (like the new Mac Pro) this fall and next year.

Source: Apple
July 24, 2013 | 11:06 AM - Posted by Justin (not verified)

And more than half those iPhones were old models, the free or 99 buck one

July 24, 2013 | 03:06 PM - Posted by Tim Verry

Possibly, Apple doesn't break down the sales which is annoying.

July 24, 2013 | 01:42 PM - Posted by pdjblum

Tim,

Love and appreciate your posts, which I check for constantly, but I do not get why you need to put a positive spin on Apple's earning report. The results can be interpreted in many ways, and I don't think it makes sense for a hardware enthusiast site to attempt to make sense out of this. I am sure it is because you are a nice guy trying to say nice things rather than being some sort of crApple fanboy, but it really comes off as if you are the latter. I have an MBA in finance from nyu grad bus school and spent four years on wall street as an investment banker/risk arbitrageur, the real deal, when I was young, and the results are not clear cut to me by any means.

July 24, 2013 | 03:03 PM - Posted by Tim Verry

Heh, well it was written more to the former than to be a fanboy post. I am hardly the person for that when it comes to Apple! :). OTOH I thought it was only fair to report on considering I covered Microsoft's earnings. It seems like Apple is still doing well, though you have a good point in that the results are not clear cut and I think we will need to wait for the full year financials and some hindsight to see how Apple under new leadership is doing and if/how they are continuing to grow and evolve in the increasingly competitive mobile market. I did note that while revenue and iphone sales are up, EPS and net profit is down (along with ipad and mac sales...) and shareholders are likely not pleased by that! Beyond that I shall defer to your MBA and experience as far as the deep analysis and investor risk management goes.

If you are referring to the outlook part of the article, I should probably word that better to indicate that is what Apple itself is expecting to see :)

TL;DR I tried to keep it objective, I apologize if it reads like something more in either direction. Thanks for the feedback!

July 24, 2013 | 03:35 PM - Posted by pdjblum

Appreciate your comments. You have to recognize, as you do, that it is crApple execs who are putting the upbeat and rosy spin on the results and on the forecast. Th only thing that was really positive as far as I can tell is an increase in iphone sales, without which the results would have been significantly worse: Ipad sales down, mac sales down, shrinking rather than growing China market, and so on.

July 24, 2013 | 08:24 PM - Posted by Mr. Anonymous (not verified)

MBA and worked on wallstreet ?
Yet, from your comment you dont seem to grasp the market trend.

If the numbers where truly crap, the stock wouldn't jump 5% in a day. Apple just gained 20 billion in valuation after their financial report. But I guess everyone on wall street is wrong but you ?

Apple full report and balance sheet is free to view.
I suggest you at least glance over it.

July 24, 2013 | 09:10 PM - Posted by pdjblum

Actually crApple stock was down around twenty points over the week leading up to the earnings report, so it actually only gained a few points net after the announcement. In addition, crApple is still significantly down from its over 700 price not too long ago. I never suggested anything about their prospects or valuation going ahead; in fact, all I did was state a few facts released with the earnings report. But go on and try to disparage me if that makes you feel better about yourself.

July 25, 2013 | 08:26 AM - Posted by ThorAxe

A greater than 25% drop in iPad sales and a 16% drop in iPhone sales from the previous Quarter does not look very good.

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