Apple Announces 2Q13 Earnings: $43.6 Billion in Revenue, $9.5 Billion in Profit
Apple has announced its Q2 2013 earnings reporting $43.6 billion in revenue and $9.5 billion in net profit, or $10.09 per diluted share.
Analysts were predicting an average revenue of $42.4 billion and profit of $9.53 billion.
These results compare to revenue of $39.2 billion and net profit of $11.6 billion, or $12.30 per diluted share, in the year-ago quarter. Gross margin was 37.5 percent compared to 47.4 percent in the year-ago quarter. International sales accounted for 66 percent of the quarter’s revenue.
The Company sold 37.4 million iPhones in the quarter, compared to 35.1 million in the year-ago quarter. Apple also sold 19.5 million iPads during the quarter, compared to 11.8 million in the year-ago quarter. The Company sold just under 4 million Macs, compared to 4 million in the year-ago quarter.
“We are pleased to report record March quarter revenue thanks to continued strong performance of iPhone and iPad,” said Tim Cook, Apple’s CEO. “Our teams are hard at work on some amazing new hardware, software, and services and we are very excited about the products in our pipeline.”
“Our cash generation remains very strong, with $12.5 billion in cash flow from operations during the quarter and an ending cash balance of $145 billion,” said Peter Oppenheimer, Apple’s CFO.
Apple is providing the following guidance for its fiscal 2013 third quarter:
● revenue between $33.5 billion and $35.5 billion
● gross margin between 36 percent and 37 percent
● operating expenses between $3.85 billion and $3.95 billion
● other income/(expense) of $300 million
● tax rate of 26%
Apple will provide live streaming of its Q2 2013 financial results conference call beginning at 2:00 p.m. PDT on April 23, 2013 at www.apple.com/quicktime/qtv/earningsq213.