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Apple Inc. (NASDAQ:APPL) reported third-quarter revenue of $94.04 billion, up 10 percent from a year earlier, driven by record sales of iPhones and continued growth in services.
Net income rose to $23.43 billion from $21.45 billion a year earlier. Diluted earnings per share increased to $1.57 from $1.40, marking a 12 percent rise. Gross margin improved to $43.72 billion from $39.68 billion, while operating income grew to $28.20 billion from $25.35 billion.
Product revenue rose 8 percent to $66.61 billion, with iPhone sales climbing to $44.58 billion from $39.30 billion. Mac revenue reached $8.05 billion, up from $7.01 billion. iPad sales declined to $6.58 billion from $7.16 billion. Wearables, Home and Accessories revenue dropped to $7.40 billion from $8.10 billion. Services revenue grew 13 percent to a record $27.42 billion.
Revenue increased across all geographic regions. Sales in the Americas rose to $41.20 billion from $37.68 billion. Europe generated $24.01 billion, up from $21.88 billion. Greater China reported $15.37 billion in revenue, up from $14.73 billion. Japan contributed $5.78 billion and the rest of Asia Pacific $7.67 billion.
Operating expenses rose to $15.52 billion from $14.33 billion. Research and development costs reached $8.87 billion, while selling, general, and administrative expenses totaled $6.65 billion.
“The company’s installed base of active devices reached a new all-time high, supported by high levels of customer satisfaction and loyalty,” according to CFO Kevan Parekh.
Apple’s board declared a dividend of $0.26 per share, payable on August 14 to shareholders of record as of August 11.
As of June 28, Apple held $36.27 billion in cash and cash equivalents, up from $29.94 billion at the start of the fiscal year. The company repurchased $70.58 billion in stock and paid $11.56 billion in dividends over the first nine months of fiscal