Another record quarter for Apple, fueled by international demand
Apple’s results for its fiscal 2015 second quarter are out (Q2 2015), and it’s been another record quarter for the Cupertino-based technology giant. The company posted revenue of $58 billion and a net profit of $13.6 billion for the quarter ended March 28, 2015. Compared to the year-ago quarter, revenue was up 27 percent from $45.6 billion and net profits were up 33 percent from $10.2 billion. That equates to $2.33 per diluted share, up from $1.66 per diluted share.
Gross margin was 40.8 percent, up from 39.3 percent in the year-ago quarter. Record second quarter sales of iPhone and Mac, as well as all-time record App Store sales fueled growth, with international sales accounting for 69 percent of the quarter’s revenue.
Sales in Greater China contributed $16.8 billion, up 71 percent from the year-ago quarter. This was largely due to strong demand for Apple products over the Chinese New Year period. Sales in Europe jumped 12 percent compared to a year ago while Japan saw a decline in sales of 15 percent.
“We are thrilled by the continued strength of iPhone, Mac, and the App Store, which drove our best March quarter results ever,” said Tim Cook, Apple’s CEO in a statement. “We’re seeing a higher rate of people switching to iPhone than we’ve experienced in previous cycles, and we’re off to an exciting start to the June quarter with the launch of Apple Watch.”
Apple also divulged sales numbers and a revenue breakdown for its iPhone, iPad, and Mac. iPhone sales of 61.1 million units contributed $40.2 billion in revenue for the quarter, up 55 percent from a year ago. iPad sold 12.6 million units and Mac sold 4.5 million units.
Apple’s Q2 2015 numbers compare to last quarter’s results of $74.6 billion in revenue and sales of 74.5 million iPhones, 21.4 million iPads and 5.5 million Macs. For the year-ago quarter, Apple reported sales of 43.7 million iPhones, 16.3 million iPads, and 4.1 million Macs.
“The tremendous customer demand for our products and services in the March quarter drove revenue growth of 27 percent and EPS growth of 40 percent,” said Luca Maestri, Apple’s CFO in a statement. “Cash flow from operations was also outstanding at $19.1 billion.”
Looking ahead at the third quarter of 2015, Apple estimates revenue to be between $46 billion and $48 billion.
photo credit: Some 5th Avenue electronics store via photopin (license)
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