On August 1, 2017 Apple, Inc. (NASDAQ:APPL) announced its financial results for the fiscal third quarter ending July 1, 2017. Apple reported quarterly revenue of $45.4 billion, up 7%, and earnings per diluted share of $1.67. International sales made up 61% of revenue in Q3.
Apple provided projections for Q4 2017 and estimated revenue between $49 and $52 billion. Operating expenses between $6.7 and $6.8 billion and a tax rate of 25.5%. Apple boasts a dividend of $0.63 per share – a dividend yield of 1.6%. Apple CEO Tim Cook said: “With revenue up 7% year-over-year, we’re happy to report our third consecutive quarter of accelerating growth and an all-time quarterly record for services revenue.”
The iPhone 8 is set to be released in September 2017, marking the 10 year anniversary of the release of the original iPhone. Apple’s Q4 projections have factored in sales of the iPhone 7 and the new iPhone 8. Apple has seen competition ramp up in the smart phone arena with the Samsung Galaxy Note 8 also set for release later in 2017.
As of noon on August 2 Apple stock is priced at $157.70 – up 5.1% for the trading day. Investors will now have to wait for the September release of the iPhone 8 as Apple continues to see its stock price soar. This is perhaps the most hyped release in years and if the buzz is indicative of consumer interest 2018 could be another monster year for Apple.
