Apple Beats In Q3 2013 With $35.3B In Revenue, $6.9B In Profit, $7.47 EPS, But Posts Another YOY Earnings Decline

Apple has just released its fiscal Q3 2013 earnings — it reported $35.3 billion in revenue (slightly up 0.9 percent from $35 billion in the year-ago quarter) along with $6.9 billion in quarterly net profit (down 21.6 percent from $8.8 billion in the year-ago quarter), representing earnings of $7.47 per share. Similarly to Q2 earnings, Apple posted a year-over-year quarterly earnings decline (down 19.8 percent from EPS of $9.32). Apple is still a money making machine, but the company’s growth has slowed. Recently, the Cupertino-based company has tweaked its release cycle a bit. Almost the entire product line was refreshed over the last three months of 2012, pumping sales for Q1 2013 and leaving a void for the rest of the year. The company seems to follow the same pattern this year, aside from the MacBook Air. As Zach Epstein says on Twitter, Samsung is now the most profitable smartphone vendor in the world, edging Apple with its $8.9 billion in profit. Yet, Samsung recently released its flagship phone, the Galaxy S4, while the iPhone 5 was released ten months ago. Apple still beat expectations According to Bloomberg Businessweek, the consensus among analysts was for Apple to report earnings of $7.28 per share on $34.9 billion in revenue. Fortune expected nearly the same with $34.94 billion in revenue and earnings of $7.29 per share. The company?s cash on hand slightly increased from $145 billion to $146.6 billion. The company?s cash on hand slightly increased from $145 billion to $146.6 billion. It remains one of Apple’s main asset. It allows the company to spend more time experimenting and preparing new products behind the curtains without having to worry about its resources. Apple beat all of those numbers, even if it means generating less profit. “We are especially proud of our record June quarter iPhone sales of over 31 million and the strong growth in revenue from iTunes, Software and Services,” wrote CEO Tim Cook in the earnings release. ?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,? he continued. Guidance from its last earnings release forecasted between $33.5 billion and $35.5 billion in revenue and gross margin between 36 percent and 37 percent. While the company used to be shy about its guidance,

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