Apple reports $45.6 billion revenue for Q2 2014: 43.7m iPhones, 16.3m iPads, 4.1m Macs, 2.7m iPods

130521141911-tim-cook-hero-tax-code-614xaApple just announced its second quarter results for 2014 with revenue for the quarter coming in at $45.6 billion. That’s compared to the guidance it previously provided of $42 – $44 billion and estimates by analysts averaging approximately $43.5B. Apple’s $45.6 billion in revenue reported today is also up from the $43.6 billion in revenue in the year ago quarter.

Break down of device sales for Q2 2014 include 43.7m million iPhones, 16.3 million iPads, and 4.1 million Macs. Compare that to an average of 38M iPhones, 19.3M iPads, 4M Macs, and 3M iPods predicted by the analysts leading up to today. In the same quarter last year, Apple sold 37.4 million iPhones, 19.5 million iPads, just under 4 million Macs, and 5.6 million iPods.

It also reported net quarterly profit of $10.2 billion, or $11.62 per diluted share in contrast to quarterly net profit of $9.5 billion, or $10.09 per diluted share in the same quarter last year.

“We’re very proud of our quarterly results, especially our strong iPhone sales and record revenue from services,” said Tim Cook, Apple’s CEO. “We’re eagerly looking forward to introducing more new products and services that only Apple could bring to market.”

“We generated $13.5 billion in cash flow from operations and returned almost $21 billion in cash to shareholders through dividends and share repurchases during the March quarter,” said Peter Oppenheimer, Apple’s CFO. “That brings cumulative payments under our capital return program to $66 billion.”

Apple is providing guidance for its next quarter of revenue between $36 billion and $38 billion.

The question of the day for Tim Cook and other Apple executives on today’s call will surely be the new product categories that Cook previously said were coming across 2014 and have yet to make an appearance in the first quarter. With Apple’s WWDC developer conference just around the corner, we’ll have to wait and see if Cook gives us any clues of what’s to come during the call today at 2:00 p.m. PST/5:00 p.m. EST. Stay tuned to our live blog for coverage. 

Apple’s full press release is below: Read more

Apple reports $35.3b revenue for Q3 2013: 31.2m iPhones, 14.6m iPads, 3.8m Macs

As planned, Apple today announced its earnings results for the Q3 2013 quarter.

CUPERTINO, Calif.–(BUSINESS WIRE)–Apple® today announced financial results for its fiscal 2013 third quarter ended June 29, 2013. The Company posted quarterly revenue of $35.3 billion and quarterly net profit of $6.9 billion, or $7.47 per diluted share. These results compare to revenue of $35 billion and net profit of $8.8 billion, or $9.32 per diluted share, in the year-ago quarter. Gross margin was 36.9 percent compared to 42.8 percent in the year-ago quarter. International sales accounted for 57 percent of the quarter’s revenue.

The Company sold 31.2 million iPhones, a record for the June quarter, compared to 26 million in the year-ago quarter. Apple also sold 14.6 million iPads during the quarter, compared to 17 million in the year-ago quarter. The Company sold 3.8 million Macs, compared to 4 million in the year-ago quarter.

Apple’s Board of Directors has declared a cash dividend of $3.05 per share of the Company’s common stock. The dividend is payable on August 15, 2013, to shareholders of record as of the close of business on August 12, 2013.

Apple reported revenues for Q3 of $35.3 billion, which is within Apple’s estimates for the quarter of between $33.5 billion and $35.5 billion. This compares to $35 billion in revenues in the year-ago Q3.

Apple also reported net profit of $6.9 billion. This compares to $8.8 billion in profit during the year-ago Q3 quarter.

In terms of product sales, Apple reports that it sold 31.2 million iPhones, 14.6 million iPads, 3.8 million Macs, and 4.57 million iPods. This compares to the 2012 Q3 quarter in which Apple sold: 26 million iPhones, 17 million iPads, and 4 million Macs, and 6.8 million iPods.

Apple CEO Tim Cook on the results:

“We are especially proud of our record June quarter iPhone sales of over 31 million and the strong growth in revenue from iTunes, Software and Services,” said Tim Cook, Apple’s CEO. “We are really excited about the upcoming releases of iOS 7 and OS X Mavericks, and we are laser-focused and working hard on some amazing new products that we will introduce in the fall and across 2014.”

Apple CFO Peter Oppenheimer on the results:

“We generated $7.8 billion in cash flow from operations during the quarter and are pleased to have returned $18.8 billion in cash to shareholders through dividends and share repurchases,” said Peter Oppenheimer, Apple’s CFO.

Apple’s guidance for next quarter (Q3 2013) is revenue between $34 billion and $37 billion.

At 2 PM Pacific time, Apple will hold a broadcasted earnings call. We will conduct a live blog of the call with interesting notes in a separate post. Full press release below:

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Apple’s U.S. PC shipments decline more than overall market if you don’t count iPads but do count Windows tablets

Screen Shot 2013-07-10 at 1.55.26 PM

Gartner is today out with a report detailing its estimates for Q2 2013 global and U.S. PC shipments. Globally, the industry average for shipments is down 10.9%. This is the fifth consecutive decline for this specific metric.

“We are seeing the PC market reduction directly tied to the shrinking installed base of PCs, as inexpensive tablets displace the low-end machines used primarily for consumption in mature and developed markets,” said Mikako Kitagawa, principal analyst at Gartner. “In emerging markets, inexpensive tablets have become the first computing device for many people, who at best are deferring the purchase of a PC. This is also accounting for the collapse of the mini notebook market.”

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