Apple FY19 Q2 Earnings: $58 Billion In Revenue, Service Revenue Hits All-Time High

Apple has announced financial results for its 2Q 2019 that is ended in March 30, 2019. The Company posted quarterly revenue of $58 billion, a decline of 5 percent from the year-ago quarter, along with net quarterly profit of $11.6 billion, and quarterly earnings per diluted share of $2.46. In contrast, Apple earned a revenue of $61.1 billion and net quarterly profit of $13.8 billion, or $2.73 per diluted share, in the year-ago quarter.

Apple CEO Tim Cook mentioned that the Service revenue has reached an all-time high, and the install bases of active devices continues to grow. Cook said that iPad sees a strongest growth in six years, and claiming that the Wearables, Home and Accessories category have set new Q2 revenue record of $5.1 billion:
“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,” said Tim Cook, Apple’s CEO. “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. We’re looking forward to sharing more with developers and customers at Apple’s 30th annual Worldwide Developers Conference in June.”
As for its fiscal 2019 third quarter, Apple provided the following guidance:
  • revenue between $52.5 billion and $54.5 billion
  • gross margin between 37 percent and 38 percent
  • operating expenses between $8.7 billion and $8.8 billion
  • other income/(expense) of $250 million
  • tax rate of approximately 16.5 percent

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