Apple books record USD13.6bn net profit in Q2, fuelled by strong smartphone sales in China

28 Apr 2015

Apple Inc has announced financial results for its fiscal 2015 second quarter ended 28 March 2015, reporting quarterly revenue of USD58 billion and quarterly net profit of USD13.6 billion, or USD2.33 per diluted share, up from sales of USD45.6 billion and net income of USD10.2 billion in the year-ago period, marking new record highs for the company. Apple attributed the strong performance to record second quarter sales of iPhone and Mac devices, along with the ‘all-time record performance’ of the App Store. The California-based company said that iPhone unit sales jumped 40% to a total of 61.2 million, noting that sales of the device in China surpassed those in the US for the first time – aided by Chinese New Year celebrations. Further, total revenue from greater China surged 71% year-on-year to USD16.8 billion, prompting Apple CFO Luca Maestri to comment: ‘The progress we’ve made in China has been remarkable and we continue to make incredible investments in China … The growth rate in China is significantly higher than most parts of the world.’

Apple has provided guidance for its fiscal 2015 third quarter, including revenue of between USD46 billion and USD48 billion (compared to USD37.4 billion a year ago), gross margin between 38.5% and 39.5% (39.4% previously), operating expenses of between USD5.65 billion and USD5.75 billion, and other income/(expenses) of USD350 million.

United States, Apple