Apple Reports Record-Breaking March Revenue Alongside First Fall in Profits in Decade
Apple has today released its second-quarter results, and there’s both good and bad news for the company, according to AppleInsider. Starting off with the bad news, Apple reported that its second-quarter profits fell by 18% to $9.5 billion from $11.6 billion in the year-ago-quarter, on sales of $43.6 billion, the first fall in profits for Apple for nearly 10 years. On the up side, that revenue figure is up from $39.2 billion in the year-ago-quarter. Apple said that it sold 37.4 million iPhones, and 19.5 million iPads in the quarter, as well as 4 million Macs. Both iPhone and iPad sales have increased, up from $35.1 billion and 11.8 million respectively in the year-ago-quarter, with the Mac sales figure staying still at 4 million previously as well.
Apple also published the following guidance for the fiscal 2013 third quarter:
“We are pleased to report record March quarter revenue thanks to continued strong performance of iPhone and iPad,” said Tim Cook, Apple’s CEO. “Our teams are hard at work on some amazing new hardware, software, and services and we are very excited about the products in our pipeline.”
“Our cash generation remains very strong, with $12.5 billion in cash flow from operations during the quarter and an ending cash balance of $145 billion,” said Peter Oppenheimer, Apple’s CFO.
Source: Apple beats on revenue but sees profits fall for first time in nearly a decade, Apple
- revenue between $33.5 billion and $35.5 billion
- gross margin between 36 percent and 37 percent
- operating expenses between $3.85 billion and $3.95 billion
- other income/(expense) of $300 million
- tax rate of 26%