Apple has just released its financial results for its second fiscal quarter 2019, finalized on March 30th.
The company already predicted an annual drop in numbers, and she confirmed: we had a turnover of $ 58 billion, net profit of $ 11.6 billion and earnings by diluted $ 2.46. The results compare, respectively, at $ 61.1 billion (therefore, a decrease of 5%) $ 13.8 billion (16% decrease) and $ 2.73 (10% decrease) in the second quarter of 2018.
Gross margin for the period was 37.6% and international sales of Apple realized 61% of the quarterly revenue.
The breakdown of revenue by segment was as follows:
- iPhone: $ 31.1 billion (-17.3%)
- Mac: $ 5.5 billion (-4.5%)
- iPad: $ 4.9 billion (+ 21.5%)
- Clothing, Home & Accessories: $ 5.2 billion (+ 30%)
- Services: $ 11.5 billion (+ 16%)
Here's the statement from the CEO Tim cook:
Our March quarter results demonstrate the continued strength of our installed base, with over 1.4 billion active devices, as we set a new historical record for Services, and the strong momentum of our Apparel, Home & Accessories category, which set a new record in March. We have achieved the biggest growth in iPad in six years, and we are more excited than ever for our future line of innovative hardware, software and services. We can't wait to share more with developers and consumers at Apple's 30 Worldwide Developers Conference in June.
And the CFO Luca Maestri:
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. We also return more than $ 27 billion to shareholders through share buybacks and (payment of) dividends. Given our confidence in Apple's future and the value we see in our shares, our Board authorized an additional $ 75 billion share buyback. We are also increasing our quarterly dividend for the seventh time in less than seven years.
Looking forward to fiscal third quarter of 2019, Apple prev revenues of US $ 52.5 to 54.5 billion, gross margin between 37% and 38%, operating expenses between $ 8.7 and $ 8.8 billion, other income / (expense) of $ 250 million and a tax rate of approximately 16.5%.
Apple's board of directors declared a cash dividend of $ 0.77 per company's common stock (up 5 percent), payable on May 16, 2019 to all shareholders registered at the close of business on May 13, 2019. Apple has stated that its management team and the Board will continue to review every aspect of the capital return program regularly and plan to release updates from it each year.
In a little while, starting at 6:00 pm (GMT), Apple will hold an audio conference to talk about these numbers and answer press questions. Later, we'll do a full coverage with highlights of what to roll over here in the .
Update 4/30/2019 5:55 PM
Tuesday itself was not very good for Apple on NASDAQ. The $ AAPL closed the day lower 1.93%, while the $ AMZN fell less (-0.61%) and could, therefore, assume the vice-leadership among the most valuable companies in the world. Apple is now worth $ 946.2 billion; Amazon, $ 948.9 billion. J to $ MSFT had a positive day (+ 0.64%) and led Microsoft to close the day worth $ 1,001 rail. Worse than Apple was the $ GOOG, which slumped 7.7% after results of Alphabet below expectations disclosed yesterday.
Despite this game of chairs, Apple's results released just recently greatly pleased Wall Street. At this time, $ AAPL is firing 5.2% in the post-closing talks of NASDAQ trading. If she keeps up the pace tomorrow, she can hit the $ 1 rail mark again. market cap.