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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Apple Opening Store In Knightsbridge

Apple is opening a new 20,000-square-foot retail store in the center of Knightsbridge, a popular luxury shopping area in London, according to The Evening Standard.

Apple signed a deal with Chelsfield, the property asset manager that is currently renovating The Knightsbridge Estate and securing retail agreements for new stores between Harrods and Harvey Nichols.

The Estate transformation will consist of new world-class retail with six flagship stores, 66,000 square feet of Grade A offices, a rooftop restaurant and 35 rental apartments centered around an internal courtyard garden. A public art installation called "The Knights of Knightsbridge" on the exterior currently hides the construction in process.

Apple already has five retail locations in London, including flagship stores Regent Street and Covent Garden, that reopened at the end of last year after a three-month renovation. The new Knightsbridge location is just a six-minute drive to our office in Kensington.

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Apple's March 25 Event "It's Showtime": Video, Apple News & More

Apple sent out invites to journalists and media outlets about its upcoming March 25th event to be held in the Steve Jobs Theater.

Image via Apple

Apple’s invitation included a video titled “It’s Showtime” - a tagline it used back in September 2006 when the company first debuted Apple TV. The invite did not offer details about the event’s topics, though the company is expected to reveal subscription services for Apple News, a new streaming video option and possibly, a gaming service as well. Last week, the Cupertino tech giant cleared the deck of any product speculation by announcing a slew of product upgrades for its iPad Air, 5th generation iPad mini, new iMac and iMac Pro models.

Image via Apple

While Apple did not reveal details in its invite, the invitation had an animation with a film leader countdown similar to video. The unconfirmed video subscription service is expected to launch later in the year. Apple already has a wide range of original TV shows and movies in development.

Apple’s March 25th event will live stream at 10 a.m. Pacific time on Apple’s website.

Last year, Apple held a March event focused on education with a few hardware releases such as an updated iPad.

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