Apple Reports Second Quarter Results
Every Apple Store has to have a shiny logo, right?
Apple quarterly revenue fell 5 percent on last year, though the company’s pivot to services income continues to drive a positive story, as that segment achieved a new record $11.5 billion revenue.
All the numbers
Apple’s financial results for its fiscal 2019 second quarter ended March 30, 2019.
The highlights:
- Quarterly revenue of $58 billion
- Down 5 percent from the year-ago quarter
- Quarterly earnings per diluted share of $2.46, down 10 percent.
- International sales accounted for 61 percent of the quarter’s revenue.
- Installed base over 1.4 billion devices.
- New March quarter record for Wearables, Home and Accessories.
- Strongest iPad growth in six years.
- Operating cash flow $11.2 billion.
- Returned over $27 billion to shareholders through repurchase and dividends.
Up Next
Apple is providing the following guidance for its fiscal 2019 third 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
What they said:
Tim Cook, Apple’s CEO said:
“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.”
Luca Maestri, Apple’s CFO said:
“Given our confidence in Apple’s future and the value we see in our stock, our Board has authorised an additional $75 billion for share repurchases. We are also raising our quarterly dividend for the seventh time in less than seven years.”
Apple’s board of directors has declared a cash dividend of $0.77 per share of the Company’s common stock, an increase of 5 percent. The dividend is payableon May 16, 2019 to shareholders of record as of the close of business May 13,
