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Apr 12, 2001
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aapl-2017-logo.jpg
Apple today announced financial results for the second fiscal quarter of 2018, which corresponds to the first calendar quarter of the year.

For the quarter, Apple posted revenue of $61.1 billion and net quarterly profit of $13.8 billion, or $2.73 per diluted share, compared to revenue of $52.9 billion and net quarterly profit of $11.0 billion, or $2.10 per diluted share, in the year-ago quarter. The revenue, profit, and earnings per share numbers were records for any second fiscal quarter in the company's history.

Gross margin for the quarter was 38.3 percent, compared to 38.9 percent in the year-ago quarter, with international sales accounting for 65 percent of revenue. Apple also declared an increased quarterly dividend payment of $0.73 per share, up from $0.63. The dividend is payable on May 17 to shareholders of record as of May 14.

In addition to the increase in the dividend payment, Apple says it will start a new share repurchase authorization of $100 billion and the company says it expects to wrap up its previous $210 billion repurchase authorization by the end of the current quarter.

Screen-Shot-2018-05-01-at-4.34.47-PM.jpg

For the quarter, Apple sold 52.2 million iPhones, compared to 50.8 million in the year-ago quarter. iPad sales were up slightly to 9.1 million, up from 8.9 million a year ago, while Mac sales slipped to 4.1 million from 4.2 million.
"We're thrilled to report our best March quarter ever, with strong revenue growth in iPhone, Services and Wearables," said Tim Cook, Apple's CEO. "Customers chose iPhone X more than any other iPhone each week in the March quarter, just as they did following its launch in the December quarter. We also grew revenue in all of our geographic segments, with over 20% growth in Greater China and Japan."
Apple's guidance for the third quarter of fiscal 2018 includes expected revenue of $51.5-53.5 billion and gross margin between 38 and 38.5 percent.

Screen-Shot-2018-05-01-at-4.34.53-PM.jpg

Apple will provide live streaming of its fiscal Q2 2018 financial results conference call at 2:00 PM Pacific, and MacRumors will update this story with coverage of the conference call highlights.

Apple's conference call has concluded. A rough transcript is ahead...

Click here to read rest of article...

Article Link: Apple Reports Q2 2018 Results: $13.8B Profit on $61.1B Revenue, 52.2M iPhones
 

JimmyBanks6

macrumors 6502
Oct 4, 2017
402
1,678
Remember when the X was announced at $999 and all the defenders said that the margins are worst.

El oh freaking el.

Sell less and make more money.

Btw I’m an owner of the X but let’s be honest, bean counter CEO raised the price to make more profits, not because the margins were less.
 

OldSchoolMacGuy

Suspended
Jul 10, 2008
4,197
9,050
I thought no one wanted to buy Apple products? The iPhone X is a failure and too expensive for anyone to buy it. The HomePod is too expensive. The laptops and desktops all need to be updated before anyone will buy them and more.
[doublepost=1525207457][/doublepost]
Glad I bought more shares yesterday. w00t!

I'm glad I bought shares in the '90s.
 

Baymowe335

Suspended
Oct 6, 2017
6,640
12,451
"Customers chose iPhone X more than any other iPhone each week in the March quarter, just as they did following its launch in the December quarter."
[doublepost=1525207644][/doublepost]
Never forget that EPS will continue to be artificially inflated by the share repurchase program.
Nothing artificial about real value.

They made $13.8B in profit, the most ever in Q2 for AAPL. Not good enough for you?
 

ThatGuyInLa

macrumors 6502a
Oct 26, 2012
835
1,128
SC
Should've colored the iPhone sales in the pie chat yellow. The Apple Pacman is gobbling up all of Apple's other divisions.

Yet another report that shows clearly why innovation and offerings in their desktop line-up is LOW priority and continuously frustrating for the few desktop end-users left.
 

Baymowe335

Suspended
Oct 6, 2017
6,640
12,451
How Sad, Macs, the backbone of this company, with less revenue than "Services", nobody wants to buy the outdated hardware...
They have 240M paid subscribers. Services is the future behemoth of this company and what investors are still missing.

Edit: Cook just confirmed they have over 270M paid subscribers. WOW! Up 30M in 90 days and 100M in 1 year. WOW, WOW, WOW.
 
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cuencap

macrumors 6502
Dec 12, 2011
263
266
Should've colored the iPhone in the pie chat yellow. The Apple Pacman is gobbling up all of Apple's other divisions.

Yet another report that shows clearly why innovation and offerings in their desktop line-up is LOW priority and continuously frustrating for the few desktop end-users left.

MacRumors, can you create a line chart of Revenue Percentage by Category over time? Would be interesting to see how the different categories have contributed to the overall revenue over the quarters. Meaning, has AAPL become more/less dependent on a certain category over the quarters.
 

Nozuka

macrumors 68040
Jul 3, 2012
3,550
6,040
Remember when the X was announced at $999 and all the defenders said that the margins are worst.

El oh freaking el.

Sell less and make more money.

Btw I’m an owner of the X but let’s be honest, bean counter CEO raised the price to make more profits, not because the margins were less.


But it's going to be harder than usual to get me to invest this much money again. What could they possibly bring in the next few iPhones, that would get me to upgrade for that price again?

Seems like a short "victory".
 

Mebsat

macrumors regular
May 19, 2003
216
367
Florida
Thank you to MacRumors for moving the iPhone net sales to the top of the graph.
It is so much more readable this way since now the other trends don't disappear.
 
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apolloa

Suspended
Oct 21, 2008
12,318
7,802
Time, because it rules EVERYTHING!
“We’re thrilled to report our best March quarter ever, with strong revenue growth in iPhone, Services and Wearables,” said Tim Cook, Apple’s CEO. “Customers chose iPhone X more than any other iPhone each week in the March quarter, just as they did following its launch in the December quarter. We also grew revenue in all of our geographic segments, with over 20% growth in Greater China and Japan.”

So a complete total and utterly different view to every supplier and analyst out there, that remark in China means nothing considering it’s market share is almost worthless now that analysts there put it in the “other” category.
I also SERIOUSLY doubt people have been chosing the iPhone X. And considering shares have fallen in the suppliers like TSMC and Foxcon based in iPhone X orders being slashed, I smell BS clever manipulation of the text around the figures. I have still not seen ONE X out in the wild, not one.

All this is doing is preparing for the price to be kept at the same level of the X for the 11, your a fool to think otherwise.
 

otternonsense

Suspended
Jul 25, 2016
2,213
6,303
Berlin
I thought no one wanted to buy Apple products? The iPhone X is a failure and too expensive for anyone to buy it. The HomePod is too expensive. The laptops and desktops all need to be updated before anyone will buy them and more.

Well, the above are no less true, but clearly Cook having turned Apple overly miserly, greedy, self-serving and derivative has not put a dent on their brand popularity and profits.

Good products? Sure. Great products? I'm not expecting any such thing to come out of Cupertino again. Without competition, peer pressure or wallet-voting, they got their cake and get to eat it too. Why bother innovating or keeping all of their products up to date if people buy them for top dollar anyway?
 
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CarpalMac

macrumors 68000
Nov 19, 2012
1,625
4,001
UK
The move to services shows how they recognised the profits were far too dependent on a single revenue stream (iPhone sales) and as well as mitigating risk, I'm sure the focus on services will help keep people within the Apple ecosystem.

The days of the Mac however are now firmly in the rear view mirror.
 
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