Apple reports best June fiscal quarter ever

Apple has announced financial results for its fiscal 2018 third quarter that ended June 30. The company posted quarterly revenue of $53.3 billion, an increase of 17% from the year-ago quarter, and quarterly earnings per diluted share of $2.34, up 40%. International sales accounted for 60% of the quarter’s revenue.

“We’re thrilled to report Apple’s best June quarter ever, and our fourth consecutive quarter of double-digit revenue growth,” said CEO Tim Cook in a press release. “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.”

“Our strong business performance drove revenue growth in each of our geographic segments, net income of $11.5 billion, and operating cash flow of $14.5 billion,” added Chief Financial Officer Luca Maestri. “We returned almost $25 billion to investors through our capital return program during the quarter, including $20 billion in share repurchases.”

Apple is providing the following guidance for its fiscal 2018 fourth quarter: revenue between $60 billion and $62 billion; gross margin between 38% and 38.5%; operating expenses between $7.95 billion and $8.05 billion; other income/(expense) of $300 million; and a tax rate of approximately 15% before discrete items.

Apple’s board of directors has declared a cash dividend of $0.73 per share of the Company’s common stock. The dividend is payable on Aug.16  to shareholders of record as of the close of business on Aug. 13, 2018.