Dive Summary:
- For the quarter ending June 29, Apple has reported sales of $35.3 billion and a $2 billion decline in profits due to the contraction of gross margins.
- Profits for the popular brand totaled $6.9 million during that period, compared with $8.8 billion in profits for the same period in 2012, RetailingToday.com reports.
- “We are really excited about the upcoming releases of iOS 7 and OS X Mavericks, and we are laser-focused and working hard on some amazing new products that we will introduce in the fall and across 2014,” states Apple CEO Tim Cook.
From the article:
... The company said it generated $7.8 billion in cash flow from operations during the quarter returned $18.8 billion in cash to shareholders through dividends and share repurchases. In conjunction with the release of its results Apple announced a $3.05 a share dividend. During the current third quarter, Apple is expecting sales to range from $34 billion to $37 billion with gross margins holding steady in the 36% to 37% range. ...
