Apple Inc. has today, announced its Q2 2016 Revenue of $50.6 Billion with 51.1m iPhones, 10.2m iPads, and 4m Macs.
Apple did originally rescheduled its second quarterly earnings results for 2016, but the results are finally in.
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.
Compare that to the year-over-year results, when in 2015 Apple made $58 billion in revenue, on the back of 61 million iPhones, 12 million iPads, and 4 million Macs.
Tim Cook, Apple’s CEO, stated:
“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.”
“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.”
This means that the last few months have been much quieter for Apple. This quarter marks the first year-over-year revenue decline for the company since 2003 which we expected.
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