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Apple Announces Third Quarter Results, $35.3B Revenue

Jul. 24, 2013 8:56 AM ETAAPL
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Originally published at www.seclive.com

Filing in Focus: Apple 8-K, July 23, 2013

Apple (AAPL) announced its financial results for third quarter fiscal 2013, reporting $35.3B in revenue, an increase from $35.0B this quarter last year. Net income this quarter of $6.9B is 22% less than the $8.8B reported last year, with earnings per share slipping from $9.32 to $7.47 per share this quarter. U.S. sales of its highly popular iPhone were up 51% compared to last year, with 31.2 million units sold over the 26 million sold last year. Overall, Apple met all analyst expectations with respect to revenue, earnings, and iPhone sales, but pressure continues to mount on the company the longer it goes without releasing a new product. Analysts point out that it appears Apple's growth is slowing while its rivals Google and Samsung continue to make strides to catch up and overtake the company. Rumors have been circulating as to Apple's development of the Apple TV, the iWatch, and other products, as pressure to see company growth mounts.

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