AAPL Company ▪ April 23, 2013
As planned, Apple has announced its Q2 2013 earnings results.
Apple® today announced financial results for its fiscal 2013 second quarter ended March 30, 2013. The Company posted quarterly revenue of $43.6 billion and quarterly net profit of $9.5 billion, or $10.09 per diluted share. These results compare to revenue of $39.2 billion and net profit of $11.6 billion, or $12.30 per diluted share, in the year-ago quarter. Gross margin was 37.5 percent compared to 47.4 percent in the year-ago quarter. International sales accounted for 66 percent of the quarter’s revenue.
The Company sold 37.4 million iPhones in the quarter, compared to 35.1 million in the year-ago quarter. Apple also sold 19.5 million iPads during the quarter, compared to 11.8 million in the year-ago quarter. The Company sold just under 4 million Macs, compared to 4 million in the year-ago quarter.
Apple reported revenues for Q2 of $43.6 billion, which beats Apple’s estimates for the quarter of between $41 and $43 billion. This revenue compares to a revenue of $39.2 billion in the year-ago Q2. Apple also reported net profit of $9.5 billion, or $10.09 per diluted share
Apple sold 37.4 million iPhones, 19.5 million iPads, just under 4 million Macs, and 5.6 million iPods. This compares to 35.1 million iPhones, 11.8 million iPads, and 4 million Macs, sold in the year-ago Q2 2012 quarter.
Apple CEO Tim Cook on the results:
“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.”
Apple CFO Peter Oppenheimer as well:
“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.
Apple’s guidance for next quarter (Q3 2013) is revenue between $33.5 billion and $35.5 billion
Apple will hold a conference call regarding today’s announcement. We will have live coverage at 5 PM EST/ 2 PM PST.
Here’s Apple’s press release announcement:
Just off the wires, Apple is more than doubling its capital returns citing its inability to stop making more money than it can spend to “operate the business, invest in our future, and maintain flexibility to take advantage of strategic opportunities.”
As part of this program, Apple’s board has increased its share repurchase authorization to $60 billion from the $10 billion level announced last year. This is the largest single share repurchase authorization in history and is expected to be executed by the end of calendar 2015. Apple also expects to utilize about $1 billion annually to net-share-settle vesting restricted stock units.
More details in the press release that follows: expand full story
At 4.30pm Eastern, Apple will report its Q2 results (and we’ll be covering it live). It’s the day when the last three months of analyst predictions and forecasts come home to roost.
Apple’s newly-realistic guidance revenue is $41b to $43b, with margins of 37.5 – 38.5 percent. These numbers would suggest earnings per share of just over $10 … expand full story
AAPL Company ▪ April 21, 2013
When Apple introduced Notification Center in iOS 5, they changed the way most people manage notification on their iOS devices. For the most part, they were right. Unfortunately, Notification Center introduced its own deficiencies and now people are looking for changes once again.
Today, change has finally come in the form of a jailbreak tweak called Abstergo, and we’ve got five free copies for our readers. Keep reading for a full breakdown of the tweak and more information about how you can win a copy.
AAPL Company ▪ April 19, 2013