Apple on Tuesday announced its second fiscal quarter results of 2018, posting revenues of $61.1 billion and a net quarterly profit of $13.8 billion. This is up from revenues of $52.9 billion and net quarterly profit of $11.0 billion 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.
Apple also announced that 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.
The company sold 52.2 million iPhones, compared to 50.8 million in the year-ago quarter. iPad sales bumped up to 9.1 million from 8.9 million a year ago, although Mac sales slipped to 4.1 million from 4.2 million.
Apple CEO Tim Cook offered the following comment:
“We’re thrilled to report our best March quarter ever, with strong revenue growth in iPhone, Services and Wearables. 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.”
The company also announced guidance for the third quarter of fiscal 2018 to include expected revenue of $51.5-53.5 billion and gross margin between 38 and 38.5 percent.
Stay tuned for additional details as they become available.
Via MacRumors