Apple Announces Record iPhone Sales

It’s hard to imagine that 31.2 million people still need iPhones, but that’s how many were sold during Apple’s third fiscal quarter ending in June. That’s a sales record for iPhones in the third quarter.

You’ll notice there were no fireworks over the Apple headquarters complex here in Cupertino. The reason is simple—the company’s net quarterly profit dropped from $8.8 billion to $6.9 billion year-over-year.

The reason is simple—while Apple is selling a ton of products, its profit margin on those products is dropping. Last year it made 42.8 percent profit, while this year the number is 36.9 percent.

Tim Cook, Apple’s CEO, turned his focus to the future, “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.”

By the numbers:

During the third quarter, Apple sold:

• 31.2 million iPhones
• 14.6 million iPads
  
• 3.8 million Macs 

If you own stock, Apple’s Board of Directors has declared a cash dividend of $3.05 per share on common stock.