iPad Sales Up 15% In Apple’s Fiscal 2017 Third Quarter

Apple on Tuesday announced financial results for its fiscal 2017 third quarter ended July 1, 2017. The Company posted quarterly revenue of $45.4 billion and quarterly earnings per diluted share of $1.67. These results compare to revenue of $42.4 billion and earnings per diluted share of $1.42 in the year-ago quarter. International sales accounted for 61 percent of the quarters revenue.

iPad sales of more than 11.4 million units in the quarter, representing a substantial 15 percent year-over-year increase in units shipped were particularly noteworthy, although iPad revenues increased by only a modest two percent, indicating that most of the growth was from the $329.95 base 9.7-inch iPad released in March, although some would be attributable to the new 10.5-inch iPad Pro that was unveiled at WWDC in June.

“With revenue up seven percent year-over-year, we’re happy to report our third consecutive quarter of accelerating growth and an all-time quarterly record for Services revenue,” said Tim Cook, Apple’s CEO. We hosted an incredibly successful Worldwide Developers Conference in June, and were very excited about the advances in iOS, macOS, watchOS and tvOS coming this fall.”

“We reported unit and revenue growth in all our product categories in the June quarter, driving 17 percent growth in earnings per share,” said Luca Maestri, Apple’s CFO. “We also returned $11.7 billion to investors during the quarter, bringing cumulative capital returns under our program to almost $223 billion.”

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