Apple Q2 earnings down as expected

It seems that public interest has shifted away from iPhones, with Huawei and Samsung racing past Apple in the ranks for quarterly shipment sales.

Apple’s revenue has appeared to drop year after year.  Their earnings report for the March quarter announced a revenue of $58 billion, a quarterly profit of $11.6 billion, and EPS of $2.46.  During the same quarter last year, Apple posted revenue of $61.1 billion and EPS of $2.73.

Apple have issued cautionary notes to investors earlier this year, warning them that the demand for new iPhone models is lower than initially expected.

Now, unit sales for the iPhone, Mac and iPad won’t be released, despite being the key analytic point for the years prior.  Apple’s Luca Maestri, during an earnings conference call last year, explained that it’s because the “number of units sold in a quarter is not representative of underlying state of business.”

Tim Cooke, in a press release also said, “our March quarter results show the continued strength of our installed base of over 1.4 billion active devices, as we set an all-time record for Services, and the strong momentum of our Wearables, Home and Accessories category, which set a new March quarter record.”  Apple’s Wearables business is now the size of a Fortune 200 company.

iPad revenue has jumped by more than 20% year-over-year;“we delivered our strongest iPad growth in six years, and we are as excited as ever about our pipeline of innovative hardware, software and services”, he added.

Apple are also increasing its quarterly dividend by 5% to $0.77 per share.  Apple’s guidance for the next quarter is higher than expected, with shares up by 4% in after-hours trading.

Source: BGR