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Apple Reports Q2 Results

Maura

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Apple yesterday announced its financial results for the second fiscal quarter of 2017, reports MacRumors. Apple posted $52.9 billion revenue and net quarterly profit of $11.0 billion, or $2.10 per diluted share. This compares with $50.6 billion revenue and net quarterly profit of $10.5 billion, or $1.90 per diluted share in the year-ago quarter.

The gross margin for the quarter was 38.9%, a slight drop from 39.4% in the year-ago quarter. International sales made up 65% of revenue. Apple’s quarterly dividend payment was up to $0.63% of revenue from $0.57%.

Apple reported that it sold 50.8 million iPhones in the quarter, which was slightly down from 51.1 million a year previous. Mac sales increased to 4.20 million units from 4.03 million units in the year-ago quarter. Meanwhile, iPad sales continued to fall, down to 8.92 million from 10.25 million.

“We are proud to report a strong March quarter, with revenue growth accelerating from the December quarter and continued robust demand for iPhone 7 Plus,” said Apple CEO Tim Cook during the earnings call. “We’ve seen great customer response to both models of the new iPhone 7 (PRODUCT)RED Special Edition and we’re thrilled with the strong momentum of our Services business, with our highest revenue ever for a 13-week quarter. Looking ahead, we are excited to welcome attendees from around the world to our annual Worldwide Developers Conference next month in San Jose.”

Source: Apple Reports 2Q 2017 Results: $11B Profit on $52.9B Revenue, 50.8M iPhones
 

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