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Apple Reports Second Quarter Results

Apple_store_Palo_Alto

Apple posted quarterly revenues of $43.6 billion and quarterly net profit of $9.5 billion, or $10.09 per diluted share for its fiscal 2013 second quarter ended March 30, 2013. 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 to a year ago. International sales accounted for 66 percent of the quarter’s revenue.

Apple 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.

Tim Cook (CEO, Apple): 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 had $12.5 billion in cash flow from operations during the quarter and an ending cash balance of $145 billion.

Apple is providing the following guidance for its fiscal 2013 third quarter:

  • 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%

[Image courtesy: Apple]

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