Apple releases Q2 2016 numbers, reports $10.5 billion profit, but first decline in revenue in over a decade
Date: Tuesday, April 26th, 2016, 14:33
Category: Finance, iPad, iPhone, News
The good news is that Apple made billions and billions of dollars in profits last quarter.
The bad news is that this represents a lower profit than Q2 of 2015.
For the first time ever, iPhone sales fell for the quarter. While this doesn’t include iPhone SE sales, Apple reported its first quarterly revenue decline in 13 years on Tuesday, which came as no surprise to the company and the investors and analysts who closely follow its finances.
After more than a decade of amazing revenue and profit leaps, Apple reported $10.5 billion in profits on $50.6 billion in sales. iPhone sales were down, the company selling only 51.2 million units in Q2, this number falling short of the 61.2 million iPhone units sold in Q2 of 2015.
Apple missed analyst estimates of $52 billion in revenue, down year-over-year from $58 billion, and $2 in profits per share, down from $2.33 a year ago. Apple cautioned prior to releasing its earnings report that iPhone sales and revenue had not met earlier forecasts.
iPad and Mac sales were also down, Apple selling 10.2 million iPads for the quarter. Granted, this number doesn’t include sales of the newly-released 9.7-inch iPad Pro. The company also sold 4 million Macs, although the revenue from iPads and Macs in Q2 was down 19 percent and 9 percent, respectively, year-over-year.
Apple recently reported its more profitable quarter, turning an $18.4 billion profit for the holiday 2015 earnings, which also proved to be one of the most profitable quarters in corporate history. soon.
“Our team executed extremely well in the face of strong macroeconomic headwinds,” Apple CEO Tim Cook said in a Tuesday press statement. “We are very happy with the continued strong growth in revenue from services, thanks to the incredible strength of the Apple ecosystem and our growing base of over 1 billion active devices.”
Finally, Apple is looking to return $50 in stock and dividends to shareholders.
Full details, including questions from analysts and shareholders, can be heard on the conference call, which is linked below.