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Apple Boasts High iPhones Sales and OK’s additional Buyback of Shares in Q2 Fiscal 2014

In a press release, Apple reported its earnings for the 2014 second quarter fiscal, concluding with March 29, 2014....

Apple Boasts High iPhones Sales and OK’s additional Buyback of Shares in Q2 Fiscal 2014

In a press release, Apple reported its earnings for the 2014 second quarter fiscal, concluding with March 29, 2014. The famous Mac manufacturer boasts its strong iPhone sales. Tim Cook, Apple's CEO, is happy with the Q2 financial results. “We’re very proud of our quarterly results, especially our strong iPhone sales and record revenue from services.”

 

Apple reported revenues of $45.6 billion for Q2 of fiscal 2014, whereas for the same quarter last year the company reported revenues of $43.6 billion; 66% of the total quarter's revenue being from international sales.

 

Net income for Q2 was $10.2 billion, as compared to last year's second quarter income of $9.5 billion. Earnings per share went up from $10.09 in last year's Q2 to $11.62 in this year's same quarter. The gross margin for the fiscal 2014 second quarter was 39.3%, compared to last year's 37.5% for the same quarter.

 

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Apple also announced an increase in its stock buyback and dividend programmes, splitting the stock 7 for 1, which will take place in June. In a  conference call Cook said, "We believe our current stock price does not reflect the size of the company.” With the buyback, Apple can show "our strong confidence in the future of Apple."


 

According to the company, in the second quarter of fiscal 2014, Apple sold 43.7 million iPhones, 4 million Macs, and 16 million iPads. Cook also stated that about 20 million Apple TV streaming media boxes have been sold so far, contributing to $1 billion worth of revenue for both boxes and TV shows/movies Apple sells for watching.  

 

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