Business
“The tremendous customer demand for our products and services in the March quarter drove revenue growth of 27% and EPS growth of 40%,” said Luca Maestri, Apple’s CFO. “Cash flow from operations was also outstanding at $19.1 billion.”
Updated : Mar 20, 2018, 02:01 AM IST
Apple Inc announced its second quarter results on April 27, 2015 and reported a net profit of $13.6 billion as against $10.2 billion in the second quarter a year ago.
The company sold 61.2 million iPhones in the quarter. In other words, Apple sold nearly 8 iPhones every second in the given three months of second quarter. Interestingly, iPhone sales have fallen 18% on a sequential basis. In the first quarter, Apple sold 74.4 million iPhones which comes to 9.5 iPhones every second.
US, once its prime market, contributed only 21% of its total revenues in the second quarter.
The company reported a drop in its revenues from all its markets but China where its revenues grew 4%, at $16.8 billion. The company earned revenues of $21.3 billion in the Americas in the given quarter. Europe accounted for $12.2 billion, followed by Japan at $3.4 billion.
“The tremendous customer demand for our products and services in the March quarter drove revenue growth of 27% and EPS growth of 40%,” said Luca Maestri, Apple’s CFO. “Cash flow from operations was also outstanding at $19.1 billion.”
Its revenues stood at a massive $58 billion in the given quarter as against $45.6 billion in the same period of last year.
“We are thrilled by the continued strength of iPhone, Mac and the App Store, which drove our best March quarter results ever,” said Tim Cook, Apple’s CEO. “We’re seeing a higher rate of people switching to iPhone than we’ve experienced in previous cycles, and we’re off to an exciting start to the June quarter with the launch of Apple Watch.”
The company has given a strong guidance for the third quarter as well.
It said that revenues are expected to be between $46 billion to $48 billion and gross margins are expected in the range of 38.5% and 39.5% as against 40.8% reported in the second quarter.
By the time you finish reading this story Apple would have sold anywhere between 160 to 500 iPhones depending upon your reading speed.
Now let that sink in.