Apple has posted an all-time-high quarterly revenue of $53.3bn

Technology monolith consolidates its status as fellow tech giants report mixed success


Apple has reported a quarterly revenue of $53.3bn in its 2018 third quarter fiscal year results, reflecting an increase of 17% from the same period in the previous year.

The results, which made up Apple's best June quarter ever, also revealed quarterly earnings per diluted share of $2.34, up 40% over the same period.

"Our strong business performance drove revenue growth in each of our geographic segments, net income of $11.5bn, and operating cash flow of $14.5bn," said Apple CFO Luca Maestri. "We returned almost $25bn to investors through our capital return program during the quarter, including $20bn in share repurchases."

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Apple also shared its guidance for its fiscal 2018 fourth quarter, anticipating revenue of between $60bn–$62bn at a gross margin of between 38.0–38.5% as its success is expected to continue.

Apple's financial results followed the news of Facebook's slump, as, on the July 27, 2018, the social media giant faced one of the biggest one-day losses in US corporate history when it dropped from a value of $630bn at the beginning of the day to $510bn by the day's end. On the contrary, on June 26, Amazon reported that its stock was up 3% matching Apple's growth.

The growth has signaled that Apple is a step closer to reaching a goal set in January 2017 by CEO Tim Cook to double services revenue to more than $14bn a quarter by 2020.

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