Apple announces Q2 2016 revenue
Article written by Find Comment
Apple has posted Q2 2016 earnings of $50 billion in revenue and $10 billion in profit. This is for the January to March 2016 quarter. Their earnings dropped as per their guidance last quarter citing macroeconomic issues and extra inflated iphone demand in the previous years quarter.
“Apple® today announced financial results for its fiscal 2016 second quarter ended March 26, 2016. The Company posted quarterly revenue of $50.6 billion and quarterly net income of $10.5 billion, or $1.90 per diluted share. These results compare to revenue of $58 billion and net income of $13.6 billion, or $2.33 per diluted share, in the year-ago quarter. Gross margin was 39.4 percent compared to 40.8 percent in the year-ago quarter. International sales accounted for 67 percent of the quarter’s revenue.”
Most importantly here is the breakdown by device category:
iPhone: 51.1 million units
iPad: 10.2 million units
Mac: 4 million units
That’s an 18% year-over-year drop for the iPhone with the iPad suffering a 19% drop.
Apple CEO Tim Cook had this to say:
“Our team executed extremely well in the face of strong macroeconomic headwinds,” said Tim Cook, Apple’s CEO. “We are very happy with the continued strong growth in revenue from Services, thanks to the incredible strength of the Apple ecosystem and our growing base of over one billion active devices.”
Luca Maestri, chief financial officer, said this:
“We generated strong operating cash flow of $11.6 billion and returned $10 billion to shareholders through our capital return program during the March quarter,” said Luca Maestri, Apple’s CFO. “Thanks to the strength of our business results, we are happy to be announcing today a further increase of the program to $250 billion.”
The full earnings release is available on the Apple website.