Apple Reports Record March Quarter Results of $13.6B Profit on $58B Revenue, Boosts Dividend and Buybacks

[MacRumors]

Apple today announced financial results for the second fiscal quarter and first calendar quarter of 2015. For the quarter, Apple posted revenue of $58 billion and net quarterly profit of $13.6 billion, or $2.33 per diluted share, compared to revenue of $45.6 billion and net quarterly profit of $10.2 billion, or $1.66 per diluted share, in the year-ago quarter.

Gross margin for the quarter was 40.8 percent compared to 39.3 percent in the year-ago quarter, with international sales accounting for 69 percent of revenue. Apple also declared an increased dividend payment of $0.52 per share, payable on May 14 to shareholders of record as of May 11. The company currently holds $193.5 billion in cash and marketable securities.

In addition to the increase in the dividend payment, Apple said it will once again expand its share repurchase authorization to $140 billion from $90 billion and the company says it expects to spend over $200 billion in cash under its capital return program by the end of March 2017. Since the start of its capital return program in August 2012, Apple has returned over $112 billion to shareholders, including $80 billion in share buybacks.

Apple sold 61.2 million iPhones during the quarter, up from 43.7 million a year earlier and a new March quarter record, while Mac sales were also strong with 4.56 million units sold, up from 4.1 million units in the year-ago quarter. iPad sales were down, however, falling to 12.6 million from 16.35 million.

"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."

Apple's guidance for the third quarter of fiscal 2015 includes expected revenue of $46-48 billion and gross margin between 38.5 and 39.5 percent.

Apple will provide live streaming of its fiscal Q2 2015 financial results conference call at 2:00 PM Pacific, and MacRumors will update this story with coverage of the conference call highlights.

Conference call and Q&A transcript is after the jump


Click here to read rest of article...

Article Link: Apple Reports Record March Quarter Results of $13.6B Profit on $58B Revenue, Boosts Dividend and Buybacks

 

[sputnikv]

jesus christ

 

[abhishake]

Fewer macs and ipads than expected.

Apple is F'd.

 

[gmanist1000]

What's an iPod?

 

[SMIDG3T]

Wow. They are doomed.... said no-one ever.

 

[cclloyd]

1. Earn Profit
2. Take profit and make new team to squash iOS/OS X bugs
3. ???
4. Profit more!

 

[Rogifan]

And the stock is only up $2 after hours so far. Google can miss on the top and bottom line and the stock jumps $20 after hours.

 

[the8thark]

I'm waiting for the sat Apple has a $1 Trillion dollar market cap. And that could happen next year or 2017 at this rate.

 

[RDeckard]

Oh boy... YKBAID once again.

Edit: For clarity's sake and for those asking what YKBAID means: You Know But Apple Is Doomed

 

[saturn88]

Wow!

I guess that means 15-20 cents more to the stock price...

 

[Nicky G]

Well there we have it, folks. APPLE IS DOOOOOOMED!!!!!

 

[samcraig]

And the stock is only up $2 after hours so far. Google can miss on the top and bottom line and the stock jumps $20 after hours.

Then maybe you should be investing in Google?

 

[patsfan83]

And the stock is only up $2 after hours so far. Google can miss on the top and bottom line and the stock jumps $20 after hours.

If Apple was still at $700 that $2 jump would be $14. And GOOG is down $10 right now.

 

[jayducharme]

Fewer macs and ipads than expected.

But notice that for the first time in a long time, Macs are a larger percentage of their sales than iPads. That's pretty amazing.

 

[AppleMad98004]

Wow. Apple is a MEGA CORPORATION! Pretty soon they will have countries which the entire population (millions) are low cost Apple employees run by the relative shell staff in California of a few thousand overlords.

I miss Bill Gates and quaint little Microsoft.

 

[jmh600cbr]

and the rich get richer

 

[ani4ani]

Well there we have it, folks. APPLE IS DOOOOOOMED!!!!!

If they get a phone wrong, they are; they are so dependant on phones these days.

 

[2457282]

from the previous article it sure seems the ametures know better than the pros.

 

[GfPQqmcRKUvP]

*Cue financially illiterate Apple fans lambasting the capital return program and saying that holding $200b in cash is the proper use of shareholder money.

 

[the8thark]

The iPod will live on as software in other devices.
The Mac is like a truck, might not always be the best seller but it's Apple's history and will always be needed at Apple - That's what Steve Jobs said and I agree 100%. He did use the Macs like trucks analogy.

 

[thatsmyfish]

I would suspect that a lot of the tablet demand was absorbed by the 6 plus. There's less of a justification for a lot of casual users to get an iPad.

 

[Pbrutto]

Hahaha sounds like a made up number....like asking a kid what do you think my car cost?....ummmmm 13 billion dollars!

 

[Imory]

What's an iPod?

While I do agree that the iPhone has replaced the iPod (especially the touch), what incentive is there for consumers to buy something that has aged significantly? Don't get me wrong, iPods will eventually go away, but a refreshed touch would definitely bump up the sales. Question is if that's really necessary for Apple to do. The profit margins for iPhones and older iPhone models are simply higher and they've been betting that consumers would be picking that instead.

 

[rekhyt]

Mac. A measly 10% of sales.

 

[imaginex20]

Keep on betting Apple is going to fail, while my stocks keep on soaring!!!