Apple breaks Q3 iPhone sales record, but profits fall

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The manufacturer saw profits fall from £5.7 billion in Q3 last year to £4.5 billion, despite revenue and iPhone sales rising

Apple has seen its profits drop in the third quarter of 2013, despite record iPhone sales.

The Californian manufacturer posted profits for April, May and June of $6.9 billion (£4.5 billion), down from $8.8 billion (£5.7 billion) for the same period last year.

This is despite a slight rise in revenue from $35 billion (£22.8 billion) in Q3 last year to $35.3 billion (£23 billion).

Gross margin, or the revenue made from selling a profit minus the cost of making it, also fell from 42.8 per cent in Q3 last year to 36.9 per cent in the same period this year.

Apple sold 31.2 million iPhones, a record for the June quarter, compared to 26 million year-on-year.

Sales of iPads fell from from 17 million in Q3 last year to 14.6 million, and Mac computer sales also declined, from four million in the June quarter last year to 3.8 million in Q3 this year.

The company’s CEO Tim Cook said Apple will unveil new products in Autumn this year and throughout 2014.

He said: “We are especially proud of our record June quarter iPhone sales of over 31 million and the strong growth in revenue from iTunes, Software and Services.

“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.”

Apple’s predictions for its fourth quarter of 2013 (July, August, September) are revenue of between $34 billion (£22 billion) and $37 billion (£24 billion), operating expenses between $3.9 billion (£2.5 billion) and $3.95 billion (£2.6 billion) and gross margin between 36 per cent and 37 per cent.

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