Apple has announced its fiscal Q2 2013 earnings, and it reports $43.6 billion in revenue (up from $39.2 billion in the year-ago quarter) along with $9.5 billion in quarterly net profit, working out to earnings of $10.09 per share.
Apple posted earnings per share of $12.30 per share back in Q2 2012, which makes this the company’s first year-over-year quarterly earnings decline in nearly a decade.
Analysts had estimated $41.82 billion in revenue, for earnings of $9.92 per share. Apple itself had estimated their revenue would be between $41 billion and $43 billion for Q2, 2013, it did not provide profit estimates.
Considering that Apple did not release any new products in the quarter, sales performed well, with 37.4 million iPhones and 19.5 million iPads sold this quarter. Apple sold ‘just under’ 4 million Macs during the quarter and 5.6M iPods.
One of the things under close scrutiny going in was gross margins, which was estimated to be between 37.5% and 38.5%. Apple reported 37.5% compared to the year-over-year quarter which rode at 47.4%. The reduction is most likely due to lower margin items like the iPad mini.
“We are pleased to report record March quarter revenue thanks to continued strong performance of iPhone and iPad,” said Tim Cook, Apple’s CEO. “Our teams are hard at work on some amazing new hardware, software and services, and we are very excited about the products in our pipeline.”
“Our cash generation remains very strong, with $12.5 billion in cash flow from operations during the quarter and an ending cash balance of $145 billion,” said Peter Oppenheimer, Apple’s CFO.
Apple is providing the following guidance for its fiscal 2013 third quarter:
- revenue between $33.5 billion and $35.5 billion
- gross margin between 36 percent and 37 percent
- operating expenses between $3.85 billion and $3.95 billion
- other income/(expense) of $300 million
- tax rate of 26%
Apple will discuss its 2013 first quarter earnings in a conference call today at 2PM Pacific/5PM Eastern. If you’d like to tune in live, click here for all the details!