Apple reports the third consecutive quarter of accelerating growth

In the third quarter 2017 Apple revenue increased of 7 percent and EPS of 17 Percent. Services revenue hits All-Time quarterly record.

appleApple announced financial results for its fiscal 2017 third quarter ended July 1, 2017.

The Company posted quarterly revenue of $45.4 billion and quarterly earnings per diluted share of $1.67. These results compare to revenue of $42.4 billion and earnings per diluted share of $1.42 in the year-ago quarter. International sales accounted for 61 percent of the quarter’s revenue.

With revenue up 7 percent year-over-year, we’re happy to report our third consecutive quarter of accelerating growth and an all-time quarterly record for Services revenue” said Tim Cook, Apple’s CEO.

Apple is providing the following guidance for its fiscal 2017 fourth quarter:

– Revenue between $49 billion and $52 billion;
– Gross margin between 37.5 percent and 38 percent;
– Operating expenses between $6.7 billion and $6.8 billion;
– Other income/(expense) of $500 million;
– Tax rate of 25.5 percent.

Apple’s board of directors has declared a cash dividend of $0.63 per share of the Company’s common stock. The dividend is payable on August 17, 2017 to shareholders of record as of the close of business on August 14, 2017.

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