Apple Inc. (NASDAQ AAPL) released its third quarter earnings this afternoon, after the market closed on Wall Street. The Cupertino company showed earnings of $1.28 per share for the three month period on revenue totaling $37.43 billion. On today’s market shares in the iPhone maker performed well on a good day for tech companies and finished the day up at $94.79.
In the run up to the release of this afternoon’s earnings numbers analysts following Apple Inc (NASDAQ AAPL) appeared to be increasingly optimistic about the firm’s performance in the third quarter.
A Bloomberg survey of 43 analysts following the company projected earnings of $1.23 per share from this afternoon’s report. Revenue was expected to come in at $38 billion.
Apple Inc (NASDAQ AAPL): Apple Stock closes in on $100 Mark
In the three months iPad sales shrunk to 13.28 million. The same period of 2013 saw the company sell 14.6 million units of the tablet computer. Gross margin for the third quarter of 2014 hit 39.4% at Apple Inc (NASDAQ AAPL). In the same three months of last year that number came in at 36.9%.
The iPhone is by far the most important part of Apple Inc (NASDAQ AAPL) business at this stage, a fact that may be somewhat disappointing given the early strength of the company’s iPad tablet computer. The strength of iPhone business is more than making up for that, however, and the effect of the iPhone 6 is projected to bring a massive boon to Apple Inc (NASDAQ AAPL) business later on this year.
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Apple Inc financial news (NASDAQ AAPL)
Apple Inc. (NASDAQ:AAPL) performance in the third quarter of the year was much better than initially expected, but the company’s guidance for the fourth quarter may be even more important. It may be possible to estimate the release date of the iPhone 6 from the company’s projections for its own fourth quarter of fiscal 2014. Given the Apple Inc. (NASDAQ AAPL) guidance for the fourth quarter of 2014 it seems likely that it will indeed release iPhone 6 before the September 27 cutoff point for the fiscal quarter.
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