Apple's iPhone Still Gushes Cash

03 May, 2018, 16:04 | Author: Sergio Cook
  • What To Expect From Apple's Q2 Earnings

Other Apple products like the iPad and Mac brought in a sizable portion of the quarterly revenue, but compared to the previous holiday quarter those products dropped off. Apple's wireless headphones, its new speaker, the HomePod, and the Apple Watch together with other products saw revenue growth, up more than 30 percent from this time past year - though the HomePod wasn't available then.

This growth was largely credited to the iPhone, with Apple flogging 52.2 million smartphones during the three-month period, up three per cent on a year ago.

Apple shares closed higher in the US Tuesday after reporting a 16% increase in quarterly revenues amid its best ever second quarter performance.

Apple sold 52.2 million iPhones, sales rise 3%.

iPad sales were up 2% in units and 6% in revenue.

Net income was also up to $13.8bn (£10.1 billion), compared with $11bn (£8bn) in the same period of 2017.

On top of that, Apple's wearable business - which boasts products like the Apple Watch, Beats, and AirPods - is now the size of a Fortune 300 company, as revealed by Cook. Tuesday's report eased these fears, with China revenue rising 21 percent year-over-year.

Along with the $100 billion share buyback, Apple also reported earnings per share growth of 30% to $2.73. With demand for Apple's hardware seemingly going soft, expect to see the cash the company pulls in from services like iCloud, Apple Music and more to really drive movement in the company's bottom line.

Takeways From Celtics' Game 1 Win Over 76ers
Boston controlled the quarter and managed to extend their lead to 17-points, 87-70, with 40.9 seconds left in the quarter. Veteran Al Horford added 26 points as the C's picked up the slack for Jaylen Brown who sat out with the hamstring injury.

Apple revealed that services revenue crossed $9 billion for the first time.

The reports of the iPhone X's demise may have been a little premature.

It said revenue from Americas grew 17 percent while that from Europe jumped by 9 percent.

IHNATKO: The growth curve was just huge over the past several years. "I don't buy the view that the market's saturated", Cook said. So we continue to put great energy there. Frankly, we're a little shocked that number hasn't dipped further considering the company's general lack of visible work on its computers.

"Apple is much more than iPhone", said Versace.

"Given our confidence in Apple's future", he added, "we are very happy to announce that our Board has approved a new $100 billion share repurchase authorization and a 16 percent increase in our quarterly dividend".

In the first quarter of 2018 in India, Apple was at the third spot with 20 percent market share in the premium smartphone category, according to market research firm Counterpoint Research.

According to Luca Maestri, the company's CFO has said that Apple now has greater flexibility from global cash, which they can use to "efficiently invest in [the company's] United States operations and work toward a more optimal capital structure".

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