Apple reports second quarter fiscal results
Apple has announced financial results for its fiscal 2013 second quarter ending March 30. The company posted quarterly revenue of US$43.6 billion and quarterly net profit of $9.5 billion, or $10.09 per diluted share.
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% compared to 47.4% n the year-ago quarter. International sales accounted for 66% 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," says Apple CEO Tim Cook. "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,"adds Chief Financial Officer Peter Oppenheimer.
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% and 37%;
° Operating expenses between $3.85 billion and $3.95 billion;
° Other income/(expense) of $300 million;
° A tax rate of 26%.