Apple Announces Q3 2016 Revenue of $42.4 Billion with 40.4m iPhones, 9.9m iPads, and 4.2m Macs

Apple CEO Tim Cook looks at a new IMac after presentation at Apple headquarters in Cupertino

Apple has officially announced the results for its third fiscal quarter, 2016, with millions of devices sold.

The third quarter results follow up the second quarter results from April of this year. As expected, this earnings report shows a more muted span of three months, even if Apple has yet again sold millions of devices across the iPhone, iPad, and Mac lineups.

Apple® today announced financial results for its fiscal 2016 third quarter ended June 25, 2016. The Company posted quarterly revenue of $42.4 billion and quarterly net income of $7.8 billion, or $1.42 per diluted share. These results compare to revenue of $49.6 billion and net income of $10.7 billion, or $1.85 per diluted share, in the year-ago quarter. Gross margin was 38 percent compared to 39.7 percent in the year-ago quarter. International sales accounted for 63 percent of the quarter’s revenue.

In total, Apple announced that it earned a revenue of $42.4 billion in the quarter, while managing to earn a total of $7.8 billion in total profit within the same stretch. As far as devices go, Apple sold 40.4 million iPhones, 9.9 million iPads, and 4.2 million Macs.

To compare, in the third quarter of last year, Apple sold 47 million iPhones, 10.9 million iPads, and 4.7 million Macs. Apple brought in $49 billion revenue in the third quarter of last year.

Tim Cook, Apple’s CEO, chimed in regarding the results:

“We are pleased to report third quarter results that reflect stronger customer demand and business performance than we anticipated at the start of the quarter,” said Tim Cook, Apple’s CEO. “We had a very successful launch of iPhone SE and we’re thrilled by customers’ and developers’ response to software and services we previewed at WWDC in June.”

Adding to that, Apple’s Chief Financial Officer, Luca Maestri, had this to say:

“Our Services business grew 19 percent year-over-year and App Store revenue was the highest ever, as our installed base continued to grow and transacting customers hit an all-time record,” said Luca Maestri, Apple’s CFO. “We returned over $13 billion to investors through share repurchases and dividends, and we have now completed almost $177 billion of our $250 billion capital return program.”

Apple’s first quarter of the year was a massive stretch for Apple, with the company earning $75.9 billion in revenue thanks to selling 74.7 million iPhones, 16.1 million iPads, and 5.3 million Macs. In the second quarter of this year, Apple earned $50.6 billion in revenue on the backs of over 50 million iPhones, more than 10 million iPads, and 4 million Macs.

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