The FINANCIAL -- Apple on April 27 announced financial results for its fiscal 2015 second quarter ended March 28, 2015. The Company posted quarterly revenue of $58 billion and quarterly net profit of $13.6 billion, or $2.33 per diluted share.
These results compare to revenue of $45.6 billion and net profit of $10.2 billion, or $1.66 per diluted share, in the year-ago quarter. Gross margin was 40.8 percent compared to 39.3 percent in the year-ago quarter. International sales accounted for 69 percent of the quarter’s revenuem, according to Apple.
The growth was fueled by record second quarter sales of iPhone and Mac and all-time record performance of the App Store.
“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. “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.”
“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. “Cash flow from operations was also outstanding at $19.1 billion.”
Apple is providing the following guidance for its fiscal 2015 third quarter:
revenue between $46 billion and $48 billion
gross margin between 38.5 percent and 39.5 percent
operating expenses between $5.65 billion and $5.75 billion
other income/(expense) of $350 million
tax rate of 26.3 percent