14 DAY TRIAL // As anticipated, Apple announced its financial results for the second quarter of fiscal 2015, which ended on March 28, and it seems that they were better than expected.
Sustained by strong profit pushed by its iPhone and Mac branches, as well as leading App store performance, the Cupertino tech giant managed to record its best Q2 to date, scoring a net profit of $13.6 / €12.5 billion from a total of $58 / €53 billion revenue.
Compared to the same period of last year, the increase in performance is highly visible, as back then Apple recorded “just” $10.2 / €9.38 billion in profit and $45.6 / €41.93 billion revenue.
On the other hand, the Q2 results pale in comparison to the all-time best fiscal Q1 2015, when Apple sold a whopping 74.5 million iPhones (take into consideration that this quarter includes the active holiday season).
Apple managed to overturn estimates once again
Last quarter, Apple sold “only” 61 million iPhone units in total, while the sales of iPad tablets and Mac computers were at 12.6 million and 4.5 million, respectively.
Even if iPad sales numbers seem impressive, they were actually below expectations, following a trend of fading interest from consumers.
The thing is Apple needs to revamp its iPad line soon, but if we are to listen to the rumors, this is bound to happen in the upcoming months. This autumn, we might even get to see the company’s large iPad Pro model with a 12.9-inch display make a debut.
Anyway, going back to Apple’s strongest product, the iPhone, the company’s CEO Tim Cook states that they are “seeing a higher rate of people switching to iPhone than we’ve experienced in previous cycles.”
The tech giant reported a total revenue of $58.01 / €53 billion for the fiscal Q2, beating estimates with nearly $2 / €1.84 billion. Earnings of $13.6 / €12.51 billion and a rate of $2.33 / €2.14 a share for the quarter in question also top estimates.
Last year during the second fiscal quarter, Apple reported $45.6 / €41.93 billion in revenue and $10.2 / €9.38 billion in earnings, with $1.66 / €1.53 per share. Gross margin rose to 40.8% in Q2 this year, compared to 39.3% in 2014.
The next quarter should be quite interesting for Apple, as the period will include the sales of the newly released Apple Watch, as well as the shiny Retina MacBook with USB Type-C connector on board.