Apple Q3 2014 Earnings: $37.4B Revenue & Strong EPS Growth Despite iPad Slump
Apple has announced its fiscal Q3 2014 financial results, revealing mixed performance with notable strengths in profitability but softer-than-expected revenue growth. Here’s a breakdown of the key figures and what they mean for the tech giant.
Financial Highlights at a Glance
- Revenue: $37.4 billion (5.9% YoY growth)
- Net Profit: $7.7 billion
- Earnings Per Share (EPS): $1.28 (19.6% YoY growth, adjusted for 7-for-1 stock split)
- Gross Margin: 39.4% (exceeding analyst expectations)
Performance vs. Expectations
While Apple outperformed analyst EPS projections (\(1.26 expected), revenue fell slightly short of the \)38.31 billion consensus estimate. The company’s gross margin proved particularly strong at 39.4%, significantly higher than the anticipated 38.0%.
Why the Mixed Results?
- iPhone Success: Continued strong performance (13.9% YoY sales growth)
- iPad Challenges: Sales declined 8.9% YoY
- Mac Steadiness: 4.4 million units sold
“Our record June quarter revenue was fueled by strong sales of iPhone and Mac and the continued growth of revenue from the Apple ecosystem,” said CEO Tim Cook. “We’re incredibly excited about upcoming releases of iOS 8 and OS X Yosemite.”
Hardware Sales Breakdown
| Product | Units Sold (Millions) | YoY Change |
|---|---|---|
| iPhone | 35.3 | +13.9% |
| iPad | 13.3 | -8.9% |
| Mac | 4.4 | - |
International Growth
China emerged as a significant growth driver, contributing substantially to both iPhone and iPad sales despite the overall tablet market slowdown.
Stock Performance & Outlook
Apple’s stock remained strong following its 7-for-1 split and dividend boost, nearing its adjusted all-time high of $100.81. After-hours trading showed minimal movement (-0.44%).
Q4 2014 Guidance
- Revenue Forecast: \(37-\)40 billion
- Gross Margin: 37-38%
This guidance suggests Apple anticipates maintaining its current performance levels as it prepares for its fall product cycle.
Image credit: Bryce Durbin
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