Figured wrong. I never will have an iPhone or any 'smart' phone. I have two of these. One as a spare;
Posted on 04/26/2016 6:25:50 PM PDT by Swordmaker
Apple today announced financial results for its fiscal 2016 second quarter ended March 26, 2016. The Company posted quarterly revenue of $50.6 billion and quarterly net income of $10.5 billion, or $1.90 per diluted share. These results compare to revenue of $58 billion and net income of $13.6 billion, or $2.33 per diluted share, in the year-ago quarter. Gross margin was 39.4 percent compared to 40.8 percent in the year-ago quarter. International sales accounted for 67 percent of the quarter’s revenue.
Wall Street expected Apple to report earnings of about $2 a share on $51.97 billion in revenue, according to a consensus estimate from Thomson Reuters. Analysts also expected Apple to report iPhone shipments of about 50.3 million units in the second quarter, bringing in revenue of $33.23 billion for the product category, as per StreetAccount. Apple’s Q215 results: Profit of $13.6 billion, or $2.33 a share, on revenue of $58 billion.
“Our team executed extremely well in the face of strong macroeconomic headwinds,” said Tim Cook, Apple’s CEO, in a statement. “We are very happy with the continued strong growth in revenue from Services, thanks to the incredible strength of the Apple ecosystem and our growing base of over one billion active devices.”
• iPhone: 51.193 million units, $32.857 billion revenue (vs. 61.170 million, $40.282 billion YOY / -16% units YOY, -18% revenue YOY)
• iPad: 10.251 million units, $4.413 billion revenue (vs. 12.623 million, $5.428 billion YOY / -19% units YOY, -19% revenue YOY)
• Mac: 4.034 million units, $5,107 billion revenue (vs. 4.563 million, $5.615 billion YOY / -12% units YOY, -9% revenue YOY)
• Services: $5.991 billion revenue (vs. $4.996 billion YOY / +20% YOY)
• Other Products*: $2.189 billion revenue (vs. $1.689 billion YOY / +30% YOY)
*includes sales of Apple TV, Apple Watch, Beats products, iPod and Apple-branded and third-party accessories.
The Company also announced that its Board of Directors has authorized an increase of $50 billion to the Company’s program to return capital to shareholders. Under the expanded program, Apple plans to spend a cumulative total of $250 billion of cash by the end of March 2018.
“We generated strong operating cash flow of $11.6 billion and returned $10 billion to shareholders through our capital return program during the March quarter,” said Luca Maestri, Apple’s CFO, in a statement. “Thanks to the strength of our business results, we are happy to be announcing today a further increase of the program to $250 billion.”
As part of the updated program, the Board has increased its share repurchase authorization to $175 billion from the $140 billion level announced last year. The Company also expects to continue to net-share-settle vesting restricted stock units.
The Board has approved an increase of 10 percent to the Company’s quarterly dividend, and has declared a dividend of $.57 per share, payable on May 12, 2016 to shareholders of record as of the close of business on May 9, 2016.
From the inception of its capital return program in August 2012 through March 2016, Apple has returned over $163 billion to shareholders, including $117 billion in share repurchases.
The Company plans to continue to access the domestic and international debt markets to assist in funding the program. The management team and the Board will continue to review each element of the capital return program regularly and plan to provide an update on the program on an annual basis.
Apple is providing the following guidance for its fiscal 2016 third quarter:
• revenue between $41 billion and $43 billion
• gross margin between 37.5 percent and 38 percent
• operating expenses between $6 billion and $6.1 billion
• other income/(expense) of $300 million
• tax rate of 25.5 percent
Apple’s Q316 revenue guidance of between $41 billion and $43 billion is light vs. FactSet estimate $47.4 billion.
Apple will provide live streaming of its Q2 2016 financial results conference call beginning at 2:00 p.m. PDT on April 26, 2016 at www.apple.com/investor/earnings-call/.
MacDailyNews Take: Big, painful, across-the-board miss.
Screw Apple. I want me a brown Zune.
I saw a Rolex the other day; that is a stupid watch. You spend $10G+ for a damned ornament that ONLY tells you the time.
Xiaomi is killing Apple in China/Asia on fones and tablets. It was bound to happen that Xiaomi got pirated Apple tech from the FoxComm slave labor camps. Selling this tech is a no brainer given FoxComm/Apple slave wages.
Look for more bad numbers from Apple the next ten quarters.
Plus the ChiComs recently killed some Apple services which hurts Apple’s allure and sales
Do you think the FR crew is actually going to read that wall of text?
Umm....Q216 ends on June 30th, 2016.
Or doesn't Apple use a calendar year?
Figured wrong. I never will have an iPhone or any 'smart' phone. I have two of these. One as a spare;
What I meant to say is that everyone who is going to get one, has gotten it.
Well...that’s a whole different barrel of Apples! =;^)
Apple's uses a fiscal year in which Q1 ends the day after Christmas. I assume there is a reason they want iPhone launches and Christmas shopping season in the first quarter, but I don't know what it is.
No, Apple doesn't use a calendar year. Apple's Fiscal year starts on the last Saturday of September at 5PM Pacific Time. Ergo their first Fiscal Quarter ends on the last Saturday of December same time, the second Fiscal Quarter ends the last Saturday of March same time, and so on.
LOL! I am sure Microsoft could dig one out of the sewage tank the unsold inventory was dropped into for you if the could remember where they hid it. . .
Those that are interested in the Financial Conference call will. You, no way. So, feel free to ignore it and remain ignorant of the factual data so you can continue to post "facturds" pulled from your nether regions. . . as usual.
Per IRS regs, once a corporation sets its Fiscal year, it almost takes an Act of God to change it. Apple established its Fiscal Year when it incorporated way back in 1977, before the creation of the iPhone and its product introduction cycle. Often the reason has to do with when the accountants involved are least busy with other duties in the tax cycle for other clients and will have time for such things as preparing corporate reports. Later IRS started trying to force all new corporations onto fiscal years matching the calendar year for IRS's convenience in processing tax reports.
Hey a$$hole show me an Apple negative post I have done in the last six months.
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