Apple Q2 Results Are In: Revenue Up 54 Percent, New Records

While the iPhone made Apple a household name, reaching over 1.5 Billion users in just the last few years, Apple’s Services today are driving the biggest growth

Today Apple has over 1.5 billion devices in use from iPhones to iPads, watches and more in use by over a billion people on the planet. Given we have over seven billion people on Earth, that puts Apple in the hands of one in seven people on the planet. These devices drive Apple’s business. While purchase of these devices, in particular iPhones, heralded a new age for Apple starting in 2007, today Apple’s services offered through these devices whether it is Fitness+ or Apple Music or even device care through Apple Care, drive the most revenue that is increasing every year.

“Apple is in a period of sweeping innovation across our product lineup and we’re keeping focus on how we can help our teams and the communities where we work emerge from this pandemic into a better world.”

— Tim Cook, Apple CEO

With strong cash flow of $24 billion and over $23 billion return on investment to investors, Apple can confidently make investments for long-term plans. Q2 2021 financial results are available at apple.com/investor/earnings-call for two weeks and consolidated statements can be found on Apple’s website and more information can be found at its investor relations website, investor.apple.com.

Apple Q2 Results In: Services Expand to $11.5 Billion

Apple’s announcement on April 30th of its fiscal results show strong service revenue income

Image via Apple

While the company’s quarterly revenue at $58 billion was down by 5 percent from a year ago, service income is up significantly and growing. 61 percent of Apple’s Q2 earnings came from international sales. The full investor call is available for listening at  www.apple.com/investor/earnings-call/ for up to two weeks. Apple has an installed base of over 1.4 billion active devices. View consolidated statements on Apple.com.

“We generated operating cash flow of $11.2 billion in the March quarter and continued to make significant investments in all areas of our business. We also returned over $27 billion to shareholders through share repurchases and dividends. Given our confidence in Apple’s future and the value we see in our stock, our Board has authorized an additional $75 billion for share repurchases. We are also raising our quarterly dividend for the seventh time in less than seven years.”

— Luca Maestri, CFO, Apple

Apple’s board of directors declared a cash dividend of $0.77 per share of the Company’s common stock, up by five percent, payable on May 16, 2019 to shareholders by the close of business on May 13, 2019.

Apple offers the following information about its fiscal 2019 third quarter:

• revenue between $52.5 billion and $54.5 billion

• gross margin between 37 percent and 38 percent

• operating expenses between $8.7 billion and $8.8 billion

• other income/(expense) of $250 million

• tax rate of approximately 16.5 percent

More information is available on Apple’s website.

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