Apple Inc (AAPL) 10-Q Quarterly Report July 2019

^® today announced financial results for its fiscal 2019 third quarter ended June 29, 2019. The Company posted quarterly revenue of $53.8 billion, an increase of 1 percent from the year-ago quarter, and quarterly earnings per diluted share of $2.18, down 7 percent. International sales accounted for 59 percent of the quarter’s revenue.

“This was our biggest June quarter ever — driven by all-time record revenue from Services, accelerating growth from Wearables, strong performance from iPad and Mac and significant improvement in iPhone trends,” said Tim Cook, Apple’s CEO. “These results are promising across all our geographic segments, and we’re confident about what’s ahead. The balance of calendar 2019 will be an exciting period, with major launches on all of our platforms, new services and several new products.”

“Our year-over-year business performance improved compared to the March quarter and drove strong operating cash flow of $11.6 billion,” said Luca Maestri, Apple’s CFO. “We returned over $21 billion to shareholders during the quarter, including $17 billion through open market repurchases of almost 88 million Apple shares, and $3.6 billion in dividends and equivalents.”

Apple is providing the following guidance for its fiscal 2019 fourth quarter:


•	revenue between $61 billion and $64 billion


•	gross margin between 37.5 percent and 38.5 percent


•	operating expenses between $8.7 billion and $8.8 billion


•	other income/(expense) of $200 million


•	tax rate of approximately 16.5 percent

Apple’s board of directors has declared a cash dividend of $0.77 per share of the Company’s common stock. The dividend is payable on August 15, 2019 to shareholders of record as of the close of business on August 12, 2019.

Apple will provide live streaming of its Q3 2019 financial results conference call beginning at 2:00 p.m. PDT on July 30, 2019 at www.apple.com/investor/earnings-call/. This webcast will also be available for replay for approximately two weeks thereafter.

Apple periodically provides information for investors on its corporate website, apple.com, and its investors relations website, investor.apple.com. This includes press releases and other information about financial performance, reports filed or furnished with the SEC, information on corporate governance and details related to its annual meeting of shareholders.

The following information was filed by Apple Inc (AAPL) on Tuesday, July 30, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Apple Inc's 10-Q Quarterly Report:

Financial - Earnings Highlight
Products gross margin decreased during the first nine months of 2019 compared to the same period in 2018 due primarily to lower iPhone unit sales and the weakness in foreign currencies relative to the U.S. dollar.

Financial - Earnings Highlight
Services gross margin increased during the third quarter and first nine months of 2019 compared to the same periods in 2018 due primarily to higher services net sales.
Financial - Earnings Highlight
Year-over-year products gross margin percentage decreased during the third quarter and first nine months of 2019 due primarily to the weakness in foreign currencies relative to the U.S. dollar and the impact of lower iPhone unit sales on the Company's products fixed cost structure.
Financial - Shares Highlight
During the nine months ended June 29, 2019, the Company repurchased 252.6 million shares of its common stock for $49.2 billion, including 55.1 million shares initially delivered under a $12.0 billion accelerated share repurchase arrangement ("ASR") dated February 2019.
Financial - Earnings Highlight
Apple Inc. | Q3 2019 Form 10-Q | 27 Apple Inc. | Q3 2019 Form 10-Q | 27 Gross Margin Products and services gross margin and gross margin percentage for the three- and nine-month periods ended June 29, 2019 and June 30, 2018 were as follows (dollars in millions): Products gross margin decreased during the third quarter of 2019 compared to the same quarter in 2018 due primarily to the weakness in foreign currencies relative to the U.S. dollar.
Financial - Earnings
During the nine months ended...Read more
Financial - Shares
On April 30, 2019, the...Read more
Financial - Earnings
Year-over-year services gross margin percentage...Read more
Revenue - Geography
Rest of Asia Pacific net...Read more
Revenue - Product
Mac net sales increased during...Read more
Financial - Expense
The year-over-year growth in selling,...Read more
Revenue - Product
iPad net sales increased during...Read more
Revenue - Product
Wearables, Home and Accessories net...Read more
Revenue - Product
Quarterly Highlights The Company has...Read more
Legal - Other
While the Company maintains directors...Read more
Revenue - Product
Services net sales increased during...Read more
Revenue - Geography
In addition, the Company has...Read more
Revenue - Product
The timing of product introductions...Read more
Revenue - Product
Revenue allocated to the product-related...Read more
Financial - Shares
Under this program, shares may...Read more
Other - Other
Based on the composition of...Read more
Financial - Expense
Apple Inc. | Q3 2019...Read more
Revenue - Product
iPhone net sales decreased during...Read more
Other - Other
As of June 29, 2019,...Read more
Other - Other
The weighted-average interest rate earned...Read more
Revenue - Geography
The weakness in foreign currencies...Read more
Revenue - Geography
The weakness in foreign currencies...Read more
Revenue - Geography
The weakness in foreign currencies...Read more
Revenue - Geography
The weakness in foreign currencies...Read more
Revenue - Geography
The weakness in foreign currencies...Read more
Financial - Earnings
The foregoing statement regarding the...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Apple Inc provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Ticker: AAPL
CIK: 320193
Form Type: 10-Q Quarterly Report
Accession Number: 0000320193-19-000076
Submitted to the SEC: Wed Jul 31 2019 12:31:53 PM EST
Accepted by the SEC: Wed Jul 31 2019
Period: Saturday, June 29, 2019
Industry: Electronic Computers