Following along with its yearly routine, Apple today announced it latest quarterly earnings.
Apple has officially announced its second fiscal quarter results of 2019. These follow the results from the first fiscal quarter of 2019, and see millions more iPhones, iPads, and Macs sold to the masses. However, unlike previous years, Apple is not detailing specific numbers when it comes to its devices sold.
In total, the company earned $58 billion in total revenue in the quarter. It earned a total of $11.56 billion in total profit. As is par for the course now, Apple is not detailing any specifics when it comes to particular device sales, opting instead to keep things pretty generic at this point.
“Apple today announced financial results for its fiscal 2019 second quarter ended March 30, 2019. The Company posted quarterly revenue of $58 billion, a decline of 5 percent from the year-ago quarter, and quarterly earnings per diluted share of $2.46, down 10 percent. International sales accounted for 61 percent of the quarter’s revenue.”
As is par for the course, Apple’s CEO, Tim Cook, weighed in on the latest quarterly results:
“Our March quarter results show the continued strength of our installed base of over 1.4 billion active devices, as we set an all-time record for Services, and the strong momentum of our Wearables, Home and Accessories category, which set a new March quarter record,” said Tim Cook, Apple’s CEO. “We delivered our strongest iPad growth in six years, and we are as excited as ever about our pipeline of innovative hardware, software and services. We’re looking forward to sharing more with developers and customers at Apple’s 30th annual Worldwide Developers Conference in June.”
Apple’s Chief Financial Officer, Luca Maestri, also chimed in:
“We generated operating cash flow of $11.2 billion in the March quarter and continued to make significant investments in all areas of our business,” said Luca Maestri, Apple’s CFO. “We also returned over $27 billion to shareholders through share repurchases and dividends. Given our confidence in Apple’s future and the value we see in our stock, our Board has authorized an additional $75 billion for share repurchases. We are also raising our quarterly dividend for the seventh time in less than seven years.”
To compare year-over-year, Apple earned $61.1 billion in revenue, on the back of 52.2 million iPhones, 9.1 million iPads, and 4.07 million Macs sold in the first quarter of 2018.
Finally, Apple is providing the following guidance for its fiscal 2018 fourth quarter:
- revenue between $52.5 billion and $54.5 billion
- gross margin between 37 percent and 38 percent
- operating expenses between $8.7 billion and $8.8 billion
- other income/(expense) of $250 million
- tax rate of approximately 16.5 percent