iPhone Sales Dropped as Apple Reports $53.8 Billion Q3 2019 Profit from Services

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Apple just announced today the financial results for Q3 2019, which ended on June 29, 2019, reporting the quarterly revenue from iPhone, iPad, iPod, Mac, Apple TV, services, and wearables sales.

The tech giant reports a quarterly revenue of $53.8 billion for its fiscal 2019 third quarter, representing an increase of just 1 percent from the year-ago quarter, as well as quarterly earnings per diluted share of $2.18, which are down 7 percent compared to the prior year.

Apple also says that 59 percent of the revenue from Q3 2019 are accounted from International sales, which were driven by all-time record sales from Services, followed by sales from Wearables, iPad, Mac, and iPhone.

"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," he added.

Apple's predictions for Q4 2019
For the fiscal 2019 fourth quarter, Apple predicts a revenue between $61 billion and $64 billion with a gross margin between 37.5 percent and 38.5 percent, as well as operating expenses between $8.7 billion and $8.8 billion.

The company also forecasts other income/(expense) of $200 million and a tax rate of approximately 16.5 percent. However, the company could see a higher revenue with the upcoming releases of the iOS 13, iPadOS 13, macOS 10.15 Catalina, tvOS 13, and watchOS 6 operating systems, as well as the iPhone 2019 line-up.