Last night Apple announced their Q2 results reporting stinger than thought earnings of $11.62 per share on sales of $45.6 billion and also revealed a surprising sales figure for Apple TV devices which has now pasted 20 million units. Not bad for a product that started out as a “hobby” for Apple.
Apple also revealed that iPhone sales have been stronger than some expected with 43.719 million units sold, up 17%, however iPad devices sold 16.35 million units, down -16% which is lower than expected.
Apple CEO Tim Cook explained : “We’re very proud of our quarterly results, especially our strong iPhone sales and record revenue from services,”-“We’re eagerly looking forward to introducing more new products and services that only Apple could bring to market.”
“We generated $13.5 billion in cash flow from operations and returned almost $21 billion in cash to shareholders through dividends and share repurchases during the March quarter,” said outgoing CFO Peter Oppenheimer. “That brings cumulative payments under our capital return program to $66 billion.”
Apple’s (AAPL) share closed on Wednesday at the bell for $524.75 but after the results gained more than $40 in after hours trading.
• Revenues: $45.642 billion, up 4.7% year over year
• Profits: $10.223 billion
• Earnings per share: $11.62, well above consensus
• Gross margin: 39.3% (well above guidance)
• iPhones: 43.719 million units, up 17%, better than expected
• iPads: 16.35 million, -16% (lower than expected)
• Macs: 4.136 million, up 5%
• iPods: 2.761 million, down 51% (as expected)
• iTunes, Software and Services: $4.573 billion, up 11%
• Accessories: $1.419 billion, up 3%
• Revenue guidance for Q3: $36 to $38 billion
• GM guidance: 37%-38%
Source: Fudzilla : CNN Money