Q3 2018 earnings are also driven by services and wearables

Jul 31, 2018 20:55 GMT  ·  By

Apple announced today results of its fiscal 2018 Q3, which ended on June 30, 2018, reporting a revenue of $53.3 billion from iPhone, services, and wearable sales.

The Cupertino, California-based company reports today that it made $11.5 billion profit in Q3 2018 from a total of $53.3 billion earnings as it sold no less than 41.3 million iPhone devices, but Apple says that part of the revenue comes from its wearables (Apple Watch) and services (App Store, Apple Music, etc.) sales, the latter reaching a new all-time high once again.

Apple also reports that 60 percent of its Q3 2018 revenue of $53.3 billion is coming from international sales. The company saw an increase of 17 percent in Q3 2018 compared to Q3 2017, and Apple also reports quarterly earnings per diluted share of $2.34, meaning up 40 percent compared to the year-ago quarter.

“We’re thrilled to report Apple’s best June quarter ever, and our fourth consecutive quarter of double-digit revenue growth,” said Tim Cook, Apple’s CEO. “Our Q3 results were driven by continued strong sales of iPhone, Services and Wearables, and we are very excited about the products and services in our pipeline.”

Apple forecasts Q4 2018 revenue between $60 billion and $62 billion

In the report, Apple forecasts the Q4 2018 revenue between $60 billion and $62 billion, with a gross margin between 38 percent and 38.5 percent, and operating expenses between $7.95 billion and $8.05 billion. The company expects the income/expense to be $300 million and the tax rate of approximately 15 percent in its fiscal 2018 fourth quarter.

Apple's Tim Cook CEO is now on a live conference call to provide us with all the details about the company's Q3 2018 financial results begins. The live streaming started at 2:00 p.m. PDT or 5:00 p.m. ET on July 31, 2018, and it's accessible at www.apple.com/investor/earnings-call/ for everyone. A recorded version will also be available in about two week's time.