July 22, 2015 at 14:18Apple's third quarter financial results are not as successful as expected
Apple Corp. released its third quarter financial report . Apple's quarterly revenue was $ 49 billion. Net income exceeded $ 10.7 billion. Compared to the same period last year, revenues grew by 33%, and profits increased by more than 38%. However, compared with the previous quarter, company revenue fell by 14%.
The company's cash reserves reached $ 202.9 billion. In this regard, Wall Street experts fear that Apple will not benefit from such rapid growth, reports The Wall Street Journal.
IPhone sales provided the company with more than $ 31 billion, up 59% from last year. Most of the smartphones the company sells in China. The latest iPhone 6 and iPhone 6 Plus models are most popular there. China is the world's second largest Apple market. Now it is second only to North America. Earlier, the second place was occupied by Europe. However, fewer devices were sold than expected.
IPad performance continues to decline. Its sales fell 23%. Revenues from the sale of tablets fell from $ 5.4 billion to $ 4.5 billion compared with the previous quarter. Sales of Apple personal computers are still growing. For the quarter, they brought corporations more than $ 6 billion. This is 9% more than in the same period of 2014.
Sales in the “other products” category increased by 49%. This includes Apple TV, iPod, Beats Electronics and Apple Watch. Which of these products makes the most contribution is not indicated in the report. Apple CEO Tim Cook believes that the start of sales of the Apple Watch was excellent. Currently, watches are available in 680 stores of the company, which is 1% of all points where iPhone is sold.
Apple forecasts for the fourth quarter of fiscal year 2015:
• Revenue from $ 49 billion to $ 51 billion
• Gross margin from 38.5 percent to 39.5%
• Operating expenses from $ 5.85 billion to $ 5.95 billion
• Tax payments of 26.3%
After reviewing the report, Apple investors began to sell the company's shares. The stock price of the corporation on the NASDAQ decreased by 7%, and its capitalization decreased by $ 60 billion.
The company's cash reserves reached $ 202.9 billion. In this regard, Wall Street experts fear that Apple will not benefit from such rapid growth, reports The Wall Street Journal.
IPhone sales provided the company with more than $ 31 billion, up 59% from last year. Most of the smartphones the company sells in China. The latest iPhone 6 and iPhone 6 Plus models are most popular there. China is the world's second largest Apple market. Now it is second only to North America. Earlier, the second place was occupied by Europe. However, fewer devices were sold than expected.
IPad performance continues to decline. Its sales fell 23%. Revenues from the sale of tablets fell from $ 5.4 billion to $ 4.5 billion compared with the previous quarter. Sales of Apple personal computers are still growing. For the quarter, they brought corporations more than $ 6 billion. This is 9% more than in the same period of 2014.
Sales in the “other products” category increased by 49%. This includes Apple TV, iPod, Beats Electronics and Apple Watch. Which of these products makes the most contribution is not indicated in the report. Apple CEO Tim Cook believes that the start of sales of the Apple Watch was excellent. Currently, watches are available in 680 stores of the company, which is 1% of all points where iPhone is sold.
Apple forecasts for the fourth quarter of fiscal year 2015:
• Revenue from $ 49 billion to $ 51 billion
• Gross margin from 38.5 percent to 39.5%
• Operating expenses from $ 5.85 billion to $ 5.95 billion
• Tax payments of 26.3%
After reviewing the report, Apple investors began to sell the company's shares. The stock price of the corporation on the NASDAQ decreased by 7%, and its capitalization decreased by $ 60 billion.