Apple has announced financial results for its fiscal 2015 third quarter that ended June 27. The company posted quarterly revenue of US$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% compared to 39.4% in the year-ago quarter. International sales accounted for 64% 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%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,”" says Apple CEO Tim Cook. "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," adds Chief Financial Officer Luca Maestri. "We generated very strong operating cash flow of $15 billion, and we returned over $13 billion to shareholders through our capital return program."

Apple is providing the following guidance for its fiscal 2015 fourth quarter:

° Revenue between $49 billion and $51 billion;

° Gross margin between 38.5% and 39.5%;

° Operating expenses between $5.85 billion and $5.95 billion;

° Other income/(expense) of $400 million;

° A tax rate of 26.3%.

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 Aug. 13 to shareholders of record as of the close of business on Aug. 10.