Apple reports $10 billion profit on $53.8 billion revenue in FY Q3 2019, iPhone revenue down 12% YoY

Apple has reported quarterly revenue of $53.8 billion, up 0.93% over last year with a net profit of $10 billion, down 13% YoY and earnings per diluted share of $2.18, down 7% for the financial year Q3 2019 that ended June 29, 2019. During earnings call Tim Cook said that the company saw significant improvement in year-over-year iPhone performance compared to last quarter, very strong performances for both Mac and iPad and absolutely blowout quarter for Wearables. Apple CFO Luca Maestri said that Apple set June quarter revenue records in several major developed markets, including the U.S., Canada, Germany, France, Japan, Australia and Korea. In emerging markets, Apple returned to growth in Mainland China, grew strong double digits in India and Brazil, and set new Q3 records in Thailand, Vietnam and the Philippines. iPhone revenue was $26 billion, down 12% compared to a year ago. This was significantly better year-over-year performance than last quarter's 17% decline, with sequential improvement in year-over-year comparisons in 15 of Apple's top 20 markets. Mac revenue was $5.8 billion, up 11% compared to last year. Mac revenue grew in 4 of its 5 geographic segments and set June quarter records in the U.S., Europe and Japan, as ...