CUPERTINO (dpa-AFX) - (Adds dividend, details)
Apple Inc. (AAPL) Thursday reported improved profit for the third quarter that beat the Street estimates. 'Today Apple is reporting a new June quarter revenue record of $85.8 billion, up 5 percent from a year ago,' said Tim Cook, Apple's CEO.
Apple's services revenue reached a new all time high of $24.213 billion from $21.213 billion last year, and products revenue rose to $61.564 billion from $60.584 billion.
For the three-month period, net profit improved to $21.448 billion or $1.40 per share, up from $19.881 billion or $1.26 per share in the same quarter a year ago
Analysts on average had expected the company to earn $1.35 per share for the quarter.
Operating income was $25.352 billion, up from $22.998 billion last year.
Revenue grew 5 percent to $85.777 billion from $81.797 billion in the previous year.
Apple's board has declared a dividend of $0.25 per share, payable on August 15, to shareholders of record on August 12.
In July, data from research firm International Data Corp or IDC had shown that global smartphone shipments from Samsung and Apple increased 6.5% in the second quarter compared to the previous year. Despite this, their worldwide market shares saw a decline as Chinese competitors experienced larger growth.
Samsung emerged as the leader in the market with 53.9 million units shipped with Apple closely following with 45.2 million units shipped, capturing 15.8% of the global market.
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