On Wednesday, Shares of Apple Inc. (NASDAQ:AAPL), lost -4.23% to $125.22.
Apple® declared financial results for its fiscal 2015 third quarter ended June 27, 2015. The Company posted quarterly revenue of $49.6 billion and quarterly net profit of $10.7 billion, or $1.85 per diluted share. These results compare to revenue of $37.4 billion and net profit of $7.7 billion, or $1.28 per diluted share, in the year-ago quarter. Gross margin was 39.7 percent contrast to 39.4 percent in the year-ago quarter. International sales accounted for 64 percent of the quarter’s revenue.
The growth was fueled by record third quarter sales of iPhone® and Mac®, all-time record revenue from services and the successful launch of Apple Watch™.
“We had an amazing quarter, with iPhone revenue up 59 percent over last year, strong sales of Mac, all-time record revenue from services, driven by the App Store, and a great start for Apple Watch,” said Tim Cook, Apple’s CEO. “The excitement for Apple Music has been incredible, and we’re looking forward to releasing iOS 9, OS X El Capitan and watchOS 2 to customers in the fall.”
“In the third quarter our year-over-year growth rate accelerated from the first half of fiscal 2015, with revenue up 33 percent and earnings per share up 45 percent,” said Luca Maestri, Apple’s CFO. “We generated very strong operating cash flow of $15 billion, and we returned over $13 billion to shareholders through our capital return program.”
Apple’s board of directors has declared a cash dividend of $.52 per share of the Company’s common stock. The dividend is payable on August 13, 2015, to shareholders of record as of the close of business on August 10, 2015.
Apple Inc. designs, manufactures, and markets mobile communication and media devices, personal computers, watches, and portable digital music players worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
Shares of Transocean Ltd. (NYSE:RIG), declined -1.42% to $13.16, during its last trading session, hitting its lowest level, as oil prices fell and U.S. crude settled below $50 a barrel on Wednesday after government data showed crude inventories in the United States rose last week and as a stronger dollar and weaker global equities applied pressure, according to Reuters.
U.S. crude oil stocks rose 2.5 million barrels, the Energy Information Administration (EIA) said in its weekly report, contrasting with expectations of a 2.3 million-barrel drawdown. Reuters added.
Transocean Ltd., together with its auxiliaries, provides offshore contract drilling services for oil and gas wells worldwide. The company primarily offers deepwater and harsh environment drilling services.
Finally, Penn Virginia Corporation (NYSE:PVA), ended its last trade with -14.94% loss, and closed at $2.22, hitting its lowest level.
On July 15, Penn Virginia Corporation declared that it has reached a contract to sell its East Texas assets to an unrevealed buyer for gross cash proceeds of $75 million. The sale is predictable to close by the end of August 2015 and is subject to customary purchase price adjustments and other customary closing conditions. The effective date of the sale is May 1, 2015.
The properties to be sold had net production of about 1,870 barrels of oil equivalent (BOE) per day during the second quarter of 2015, comprising of 76% natural gas, 16% natural gas liquids (NGLs) and 8% oil. As a result of the divestiture, stated 2015 production is predictable to decrease by an estimated 200,000 BOE. Estimated proved reserves associated with the divested properties at year-end 2014, as determined by third party engineers, were 13.7 million BOE, 85% of which were proved developed. The reserves comprised of 77% natural gas, 16% NGLs and 6% oil.
Penn Virginia Corporation, an independent oil and gas company, explores, develops, and produces crude oil, natural gas liquids, and natural gas in various onshore regions of the United States.
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