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Apple announces Q3 2014 earnings results


Apple today announced its financial results for the third quarter of fiscal year 2014. Speaking to CNBC, Apple CEO Tim Cook said he "couldn't be happier" with the results, adding that "this is the best execution of any quarter since I've been at Apple."

Apple posted quarterly revenue of $37.4 billion and quarterly net profit of $7.7 billion with an EPS of $1.28 per diluted share. Last year's results for the same quarter were $35.3 billion with a net profit of $6.9 billion, or $1.07 per diluted share. Gross margin for the quarter was 39.4 percent, as compared to 36.9 percent in the year-ago quarter. International sales accounted for 59 percent of the quarter's revenue.

Apple sold 35.2 million iPhones, 13.3 million iPads and 4.4 million Macs in the third quarter of 2014. This represents a 12 percent climb in iPhone sales from the 31.2 million reported in Q3 2013 and a 9.2 percent drop in iPad sales from 14.6 million during the same quarter last year. Mac sales showed the steepest rise, climbing 18 percent from 3.8 million in Q3 2013.

This financial report only scratches the surface of Apple's earnings for the quarter. For additional details, please join us at 5 PM ET / 2 PM PT for our liveblog of Apple's Q3 2014 earnings call.

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