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Apple Reports Q2 2018 Results: $13.8B Profit on $61.1B Revenue, 52.2M iPhones

Apple today announced financial results for the second fiscal quarter of 2018, which corresponds to the first calendar quarter of the year. For the quarter, Apple posted revenue of $61.1 billion and net quarterly profit of $13.8 billion, or $2.73 per diluted share, compared to revenue of $52.9 billion and net quarterly profit of $11.0 billion, or $2.10 per diluted share, 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. In addition to the increase in the dividend payment, Apple says 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. For the quarter, Apple sold 52.2 million iPhones, compared to 50.8 million in the year-ago quarter. iPad sales were up slightly to 9.1 million, up from 8.9 million a year ago, while Mac sales slipped to 4.1 million from 4.2 million.“We’re thrilled to report our best March quarter ever, with strong revenue growth in iPhone, Services and Wearables,” said Tim Cook, Apple’s CEO. “Customers chose iPhone X more than any other iPhone each week in the March quarter,

Apple Expected to Report Best-Ever Second Quarter Today With Anticipated Clues About iPhone X Sales

Apple is set to report its earnings results for the second quarter of its 2018 fiscal year at 1:30 p.m. Pacific Time today. The quarter began December 31, 2017 and ended March 31, 2018, according to Apple's fiscal year accounting calendar. Apple provided the following guidance for the quarter back on February 1:revenue between $60 billion and $62 billion gross margin between 38 and 38.5 percent operating expenses between $7.6 billion and $7.7 billion other income/expense of $300 million tax rate of approximately 15 percentApple's guidance suggests the company will report its best second quarter results ever, topping its previous record of $58 billion: 2014: $45.6 billion 2015: $58.0 billion 2016: $50.6 billion 2017: $52.9 billion 2018: $60+ billion Wall Street analysts forecast that Apple will report $60.9 billion revenue, meeting roughly the midpoint of its guidance, and earnings per share of $2.69, according to over 30 estimates averaged by Yahoo Finance. MacRumors has compiled second quarter revenue and EPS estimates from a handful of Apple-focused analysts: Key Takeaways and What to Look ForApple is expected to report iPhone unit sales of 51.9 million, a roughly two percent increase over 50.8 million in the year-ago quarter, according to average analyst estimates compiled by Bloomberg. Apple doesn't break out iPhone sales on a model-by-model basis, but the iPhone's average selling price should reveal whether there's any truth to reports that iPhone X sales have slowed significantly. iPhone ASP was $796 last quarter, up from $695 a year earlier.

Apple to Announce Q2 2018 Earnings on May 1

Apple today updated its investor relations page to announce that it will share its earnings results for the second fiscal quarter (first calendar quarter) of 2018 on Tuesday, May 1. The earnings release will provide a look at sales of the iPhone 8, iPhone 8 Plus, and iPhone X following its record January quarter that saw the company sell 77.3 million iPhones. Apple's guidance for the second fiscal quarter includes expected revenue of $60 to $62 billion and gross margin between 38 and 38.5 percent. Apple will beat its Q2 2017 earnings results based on those guidance numbers. Apple's quarterly earnings statement will be released at 1:30 p.m. Pacific/4:30 p.m. Eastern, with a conference call to discuss the report taking place at 2:00 p.m. Pacific/5:00 p.m. Eastern. MacRumors will provide coverage of both the earnings release and conference call on May

App Store, Apple Music, iCloud and Apple Pay Set All Time Quarterly Revenue Records in Q1 2018

Apple's services category continues to grow rapidly, and in the first fiscal quarter of 2018, Apple services, which includes iTunes, the App Store, Apple Music, iCloud, Apple Pay, and AppleCare, saw revenue of $8.5 billion, up 18 percent year over year. The App Store saw its best holiday season ever, and Q1 2018 marked the best quarter ever for not only the App Store, but also Apple Music, iCloud, and Apple Pay. Apple Music, iCloud, and Apple Pay all saw significant growth in active users. Paid subscriptions passed 240 million by the end of the December quarter, which Apple says is an increase of $30 million in the last 90 days alone, the largest quarterly growth ever. Apple CEO Tim Cook says Apple is well on its way to reaching its goal to double its services revenue by

Apple Reports Record Results for 1Q 2018: $20B Profit on $88B Revenue, 77.3M iPhones

Apple today announced financial results for the first fiscal quarter of 2018, which corresponds to the fourth calendar quarter of 2017. For the quarter, Apple posted revenue of $88.3 billion and net quarterly profit of $20.1 billion, or $3.89 per diluted share, compared to revenue of $78.4 billion and net quarterly profit of $17.9 billion, or $3.36 per diluted share, in the year-ago quarter. The revenue and earnings per share numbers were company records for any quarter in the company's history. Gross margin for the quarter was 38.4 percent, compared to 38.5 percent in the year-ago quarter, with international sales accounting for 65 percent of revenue. Apple also declared an upcoming dividend payment of $0.63 per share, payable February 15 to shareholders of record as of February 12. For the quarter, Apple sold 77.3 million iPhones, compared to 78.3 million in the year-ago quarter. iPad sales were up slightly to 13.2 million, up from 13.1 million a year ago, and Mac sales slipped to 5.1 million from 5.4 million.“We’re thrilled to report the biggest quarter in Apple’s history, with broad-based growth that included the highest revenue ever from a new iPhone lineup. iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November,” said Tim Cook, Apple’s CEO. “We’ve also achieved a significant milestone with our active installed base of devices reaching 1.3 billion in January. That’s an increase of 30 percent in just two years, which is a testament to the popularity of our products and the loyalty and

Apple Expected to Report Highest Revenue in Single Quarter in Company's History

Apple is set to report its earnings results for the first quarter of its 2018 fiscal year at 1:30 p.m. Pacific Time on Thursday. The quarter reflects Apple's sales between October 1 and December 30 of 2017. Apple provided the following guidance for the quarter back on November 2: • revenue between $84 billion and $87 billion • gross margin between 38 and 38.5 percent • operating expenses between $7.65 billion and $7.75 billion • other income/expense of $600 million • tax rate of 25.5 percentApple's guidance suggests the company will easily beat its current all-time quarterly revenue record of $78.4 billion set a year ago. Wall Street analysts forecast that Apple will report $87.06 billion revenue and earnings per share of $3.83, according to 29 estimates averaged by Yahoo Finance. A quarter-by-quarter look at Apple's revenue since the 2009 calendar year:Apple's FY Q1 Rev. • 2014: $57.6B • 2015: $74.6B • 2016: $75.9B • 2017: $78.4B • 2018: $84B+ MacRumors has compiled fiscal first quarter estimates from several financial institutions and analysts tracking Apple's earnings results and stock. Key Takeaways and What to Look For • Was the iPhone X a hit? Apple began taking iPhone X orders on October 27, roughly four weeks after the quarter began, so investors will be closely examining Apple's total number of iPhones sold to see if the flagship smartphone had a measurable impact. Apple doesn't reveal iPhone sales on a model-by-model basis, however, so its total will include sales of the iPhone 8, iPhone 8 Plus, and older models in its smartphone

Apple to Announce Q1 2018 Earnings on February 1

Apple today updated its investor relations page to announce that it will share its earnings results for the first fiscal quarter of 2018 on Thursday, February 1. The earnings report will give us our first real look at iPhone X sales, as well as sales of the iPhone 8 and the iPhone 8 Plus throughout the holiday quarter. The iPhone X did not go on sale until November 3, and it was not included in Apple's fourth quarter earnings report. Guidance for the first fiscal quarter of 2018 includes expected revenue of $84 to $87 billion and gross margin between 38 and 38.5 percent. It will be a record setting quarter even at the low end of the guidance range, as Apple saw $78.4 billion in revenue in Q1 2017. Apple's quarterly earnings statement will be released at 1:30 p.m. Pacific/4:30 p.m. Eastern, with a conference call to discuss the report taking place at 2:00 p.m. Pacific/5:00 p.m. Eastern. MacRumors will provide coverage of both the earnings release and conference call on February

Transcript of Everything Apple Said About Its Record-Breaking Fourth Quarter Earnings Results

Apple today reported revenue of $52.6 billion and net quarterly profit of $10.7 billion, or $2.07 per diluted share, in the fourth quarter of its 2017 fiscal year. Apple's CEO Tim Cook and CFO Luca Maestri discussed the results on a conference call today. MacRumors has prepared a complete transcript of the call ahead. Tim Cook Good afternoon and thanks to everyone for joining us. As we close the books on a very successful fiscal 2017, I have to say I couldn't be more excited about Apple's future. This was our biggest year ever in most parts of the world, with all-time record revenue in the United States, Western Europe, Japan, Korea, the Middle East, Africa, Central and Eastern Europe, and Asia. We had a particularly strong finish this year, generating our highest September quarter revenue ever, as year-over-year growth accelerated for the fourth consecutive

Apple's Mac Sales Up 25% Year-Over-Year in Q4 2017

Apple today announced financial results for the fourth fiscal quarter (third calendar quarter) of 2017, unveiling impressive Mac sales. Apple sold 5.39 million Macs during the quarter, up from 4.89 million in the year-ago quarter, marking an 10 percent increase in shipments. Mac revenue came in at $7.17 billion, up from $5.74 billion in the year-ago quarter, marking 25 percent growth. Overall revenue is likely up thanks to an increased price tag for the MacBook Pro, which saw prices raised in 2016 with the debut of Touch Bar models. Apple this summer refreshed much of its Mac lineup, introducing new MacBook, MacBook Pro, and iMac models with Kaby Lake processors. At the end of this year, Apple plans to introduce the iMac Pro for its professional user base, and there are future plans to unveil a modular high-end Mac Pro, both of which should further boost Mac sales in the years to

Apple Reports 4Q 2017 Results: $10.7B Profit on $52.6B Revenue, 46.7M iPhones

Apple today announced financial results for the third calendar quarter and fourth fiscal quarter of 2017. For the quarter, Apple posted revenue of $52.6 billion and net quarterly profit of $10.7 billion, or $2.07 per diluted share, compared to revenue of $46.9 billion and net quarterly profit of $9 billion, or $1.67 per diluted share, in the year-ago quarter. The revenue and earnings per share numbers were company records for the fourth fiscal quarter, although the total profit fell short of the 2015 figure. Gross margin for the quarter was 37.9 percent, compared to 38 percent in the year-ago quarter, with international sales accounting for 62 percent of revenue. Apple also declared an upcoming dividend payment of $0.63 per share, payable November 16 to shareholders of record as of November 13. For the quarter, Apple sold 46.7 million iPhones, up from 45.5 million in the year-ago quarter. iPad sales were up to 10.3 million from 9.3 million in the fourth quarter of 2016, and Mac sales rose to 5.4 million from 4.9 million. For the full fiscal year, Apple generated $229.2 billion in sales with $48.4 billion in net income, up from $215.6 billion in sales and $45.7 billion in net income for fiscal 2016.“We’re happy to report a very strong finish to a great fiscal 2017, with record fourth quarter revenue, year-over-year growth for all our product categories, and our best quarter ever for Services,” said Tim Cook, Apple’s CEO. “With fantastic new products including iPhone 8 and iPhone 8 Plus, Apple Watch Series 3, and Apple TV 4K joining our product

Apple Expected to Report Strong Summer Revenue of $50B+ as Focus Shifts to iPhone X Launch Quarter

Apple is set to report its earnings results for the fourth quarter of its 2017 fiscal year at 1:30 p.m. Pacific Time today. The fiscal quarter reflects Apple's sales between July 2 and September 30 of 2017. Apple provided the following guidance for its fourth quarter back on August 1: • revenue between $49 billion and $52 billion • gross margin between 37.5 and 38 percent • operating expenses between $6.7 billion and $6.8 billion • other income/expense of $500 million • tax rate of 25.5 percentApple's guidance suggests the company will report at least its second best fourth quarter earnings results in its history. Wall Street analysts forecast that Apple will report $50.7 billion revenue and earnings per share of $1.87, according to 29 estimates averaged by Thomson Reuters. A quarter-by-quarter look at Apple's revenue since the 2009 fiscal year:Fourth Quarter Revenue • 2013: $37.5B • 2014: $42.1B • 2015: $51.5B • 2016: $46.9B • 2017: $49B+ MacRumors.com compiled fourth quarter estimates from several financial institutions and analysts tracking Apple and the company's stock. The figures are listed below, ranked from highest to lowest in quarterly revenue. Apple's fourth quarter earnings results will provide the first official indication of how well the iPhone 8 and iPhone 8 are selling. The devices became available to pre-order on September 15, just over two weeks before the quarter ended, and launched in stores one week later on September 22. Multiple reports have suggested that demand for the iPhone 8 and iPhone 8 Plus has been tepid, but

Apple to Announce Q4 2017 Earnings on November 2

Apple today updated its investor relations page to announce that the company will share its earnings for the fourth fiscal quarter (third calendar quarter) of 2017 on Thursday, November 2. The earnings release will provide a look at iPhone 8 and iPhone 8 Plus sales during their first week of availability. Apple has not provided launch weekend sales for the new devices, so this will be the first look at how well the updated devices sold compared to the iPhone 7 and iPhone 7 Plus last year. Apple's guidance for the fourth quarter of fiscal 2017 includes expected revenue of $49 to $52 billion and gross margin between 37.5 and 38 percent. In 4Q 2016, Apple posted revenue of $46.9 billion and gross margin of 38 percent. The quarterly earnings statement will be released at 1:30 PM Pacific/4:30 PM Eastern, with a conference call to discuss the report taking place at 2:00 PM Pacific/5:00 PM Eastern. MacRumors will provide coverage of both the earnings release and conference call on November

Transcript: Here's Everything Tim Cook Said About Apple's Impressive June Quarter Today

Apple today reported revenue of $45.4 billion and net quarterly profit of $8.7 billion, or $1.67 per diluted share, in its fiscal third quarter ended June 24. Apple CEO Tim Cook and CFO Luca Maestri discussed the results on a conference call today. MacRumors has prepared a complete transcript of the call ahead. Tim Cook Good afternoon, and thanks everyone for joining us. Today, we're proud to announce very strong results for our fiscal third quarter, with unit and revenue growth in all of our product categories. We'll review our financial performance in detail, and I'd also like to talk about some of the major announcements we made in June at our Worldwide Developers Conference. It was our biggest and best WWDC ever, and the advancements we introduced across hardware, software, and services will help us delight our customers, and extend our competitive lead this fall, and well into the future. For the quarter, total revenue was at the high end of our guidance range at $45.4 billion. That's an increase of 7 percent over last year, so our growth rate has accelerated in three consecutive quarters this fiscal year. Gross margin was also at the high end of our guidance, and we generated a 17 percent increase in earnings per share. iPhone results were impressive, with especially strong demand at the high end of our lineup. iPhone 7 was our most popular iPhone, and sales of iPhone 7 Plus were up dramatically compared to 6s Plus in the June quarter of last year. The combined iPhone 7 and 7 Plus family was up strong double digits year over year. One decade after the

Apple Increased AirPods Production Capacity, But Still Unable to Meet Demand

During today's earnings call covering the third fiscal quarter of 2017, Apple CEO Tim Cook briefly mentioned the company's super popular hard-to-come-by wireless earphones, the AirPods. According to Cook, production capacity has been bumped up, but because of the high level of demand, Apple is still unable to make enough to reach supply/demand balance.We're also seeing incredible enthusiasm for AirPods. 98 percent customer satisfaction based on Creative Strategy's survey. We have increased production capacity for AirPods and are working very hard to get them to customers as quickly as we can, but we are still not able to meet the strong level of demand.Priced at $159, Apple's AirPods are wire-free earphones that feature Bluetooth and an Apple-designed W1 chip for a better connection and simple transfers between different devices. AirPods are equipped with an infrared sensor to detect when they're in the ear, and they support a range of touch-based gestures. Since launch, AirPod supplies have been severely constrained and ship out from the online Apple Store in the U.S. in six weeks. That six week mark has not budged since December, but Apple retail stores occasionally have them in stock as do third-party retailers like Best

Tim Cook Says Apple is 'Very Focused on Autonomous Systems'

It's no secret that Apple is working on an autonomous driving system, thanks to statements from Apple CEO Tim Cook, information published by the DMV, and the presence of Apple's autonomous test vehicles on the road, but during today's earnings call, Cook re-emphasized Apple's deep interest in the technology, and he even hinted Apple's work on autonomy could be used for more than vehicles. "In terms of autonomous systems, what we've said is that we are very focused on autonomous systems from a core technology point of view," Cook said. "We do have a large project going, and we're making a big investment in this from our point of view." Cook went on to call autonomy "the mother of all AI projects," a statement he's shared before in an interview with Bloomberg. Cook also hinted that Apple has other autonomous projects in the works beyond a car system. "Autonomous systems can be used in a variety of ways -- a vehicle is only one, but there are many different areas of it. And I don't want to go any further with that," he said. Apple has presumably been working on an autonomous driving system since 2014, when rumors of its efforts to create an electric vehicle first surfaced. Apple has now moved away from creating a full vehicle and is said to be focusing on self-driving technology instead. Since April, Apple has been testing its autonomous driving system in several Lexus RX450h SUVs, which can be spotted on the roads around its Cupertino

Apple CEO Tim Cook Evades Questions on Alleged Plans to Build Three 'Big' U.S. Factories

Last week, United States President Donald Trump told The Wall Street Journal that Apple had plans to build three "big, big, big" manufacturing plants in the United States, a statement that allegedly came from Apple CEO Tim Cook. Unsurprisingly, Cook was questioned about the president's statement during the question and answer portion of today's earnings call, and he deftly dodged it by highlighting Apple's overall efforts to increase jobs in the United States. Apple CEO Tim Cook at the Executive Tech Summit at Trump Tower in December of 2016 Cook said Apple has created two million jobs in the United States, across three separate categories. The first, responsible for about 2/3rds of those jobs, is the App Store and the Apple developer community. Cook said Apple is making an enormous effort in this area by encouraging children and college students to get into coding through Swift-based curriculum that's been introduced in schools around the world. The second category, according to Cook, is Apple's manufacturing purchases. Last year, Apple purchased $50 billion in goods and services from U.S. based suppliers, and has been aiming to increase that. Apple in May announced a $1 billion Advanced Manufacturing Fund meant to encourage innovation among U.S.-based manufacturers. Corning became the first recipient of the fund in mid-May, and Cook says the money will be used to expand the company's Kentucky plant to make innovative glass. "There are several plants that can benefit from having some investment to grow, expand, or set up ship in the U.S. for the first

Apple CEO Tim Cook: 'I Think Augmented Reality is Big and Profound'

During today's earnings call covering the third fiscal quarter of 2017, Apple CEO Tim Cook was asked about ARKit and how he foresees developers using the service when it first launches. In response, Cook once again reiterated his excitement about augmented reality, and in short, said he expects to see a wide variety of applications shortly after iOS 11 becomes available this fall. Cook pointed towards many of the demos that we're already seeing, which have ranged from games and entertainment to more practical applications like furniture placement and measurement. Subscribe to the MacRumors YouTube channel for more videos. "I could not be more excited about AR and what we're seeing with ARKit," said Cook. "What categories? What's on the web in terms of what people are doing? It's all over the place, from entertainment to gaming." He went on to say that he expects to see small business solutions, consumer solutions, and enterprise solutions, though he mentioned enterprise "takes a little longer to get going sometimes." "I think AR is big and profound," he went on to say. "This is one of those huge things that we'll look back at and marvel at the start of it. I think customers are going to see it in a variety of ways and it feels great to get [AR] going at a level that can get all of the developers behind it." A recreation of A-ha's "Take On Me" made using ARKit In an interview with CNBC after the earnings call, Cook said he believes the iPhone will become even more essential than it already is once augmented reality features are widely available."The smart

Apple Pay Coming to Finland, Denmark, Sweden and UAE Later This Year

Apple is planning to expand Apple Pay to Finland, Denmark, Sweden, and United Arab Emirates before the end of the calendar year, the company announced in today's third quarter earnings call. No specific information was provided on a potential launch date, beyond the announcement that it's coming later in the year. Apple doesn't appear to have established Apple Pay web pages for the four countries, something that typically happens as it prepares for an Apple Pay launch. Over the course of the last few years, Apple has been working "rapidly" to expand Apple Pay to additional countries, and it is now available in the U.S., UK, China, Australia, Canada, Switzerland, France, Hong Kong, Russia, Singapore, Japan, New Zealand, Spain, Italy, Taiwan, and Ireland. Along with Sweden and Finland, rumors suggest Apple is also working to bring Apple Pay to Belgium, South Korea, Germany, and

Apple Has Now Sold Over 1.2 Billion iPhones

During today's earnings call covering the third quarter of 2017, Apple CEO Tim Cook announced that Apple has now sold 1.2 billion cumulative iPhones since the device was first introduced in 2007. Apple sold its 1 billionth iPhone back in July of 2016, so in the last year, the company has sold another 200 million devices. According to Apple's earnings results, iPhone sales were at 41 million devices in the third quarter alone, bringing in more than $24.8 billion. According to Apple CEO Tim Cook, sales of the current-generation iPhone 7 Plus have been impressive and are "up dramatically" compared to sales of the iPhone 6s Plus in 2016. Sales of both the iPhone 7 and the iPhone 7 Plus are up "strong double digits" compared to the year-ago quarter. Since the iPhone was introduced in 2007, Apple has introduced new features and improvements with each successive device. This year, we're expecting to see Apple unveil the iPhone 8, a radically redesigned device with an edge-to-edge OLED display, no Home button, and a new front-facing camera system that enables facial recognition

Apple's iPad Sales Up 15% Year-Over-Year in 3Q 2017

Apple in June introduced new 10.5 and 12.9-inch iPad Pro models with new features like a faster processor and an improved ProMotion display with a 120Hz refresh rate, and it appears these new tablets are appealing to consumers. Apple sold over 11.4 million iPads during the third quarter of 2017, according to today's earnings results, bringing in nearly $5 billion in revenue for the company. That's up 15 percent from the third quarter of 2016, where Apple sold just under 10 million iPads. Compared to the second quarter of 2017, iPad sales are up an impressive 28 percent, indeed suggesting the new iPad Pro models have been a hit. Apple also released a low-cost revamped "iPad" earlier this year, and its $329 price tag combined with a speedy A9 processor may also be driving iPad sales. iPad sales may climb even higher next quarter as the new iPad Pro models were introduced towards the end of the third quarter in June. At 11.4 million iPads sold, Apple far exceeded analyst expectations. Many analysts forecasted a decline in sales, predicting Apple would sell only 7 to 9.8 million iPads during the quarter. Prior to mid-2016, Apple saw a 10 quarter decline in iPad revenue, but numbers have climbed since the introduction of the iPad Pro and Apple's effort to position it as a full PC