Apple announces Q2 2019 results

Apple has announced financial results for its second quarter of fiscal 2019, which ended on March 30, 2019. The company has posted quarterly revenue of $58 billion, a decline of 5% from the year-ago quarter. International sales accounted for 61% of the quarter’s revenue.

Commenting on the results, Apple CEO, Tim Cook, said, “Our March quarter results show the continued strength of our installed base of over 1.4 billion active devices, as we set an all-time record for services, and the strong momentum of our wearables, home and accessories category, which set a new March quarter record. We delivered our strongest iPad growth in six years, and we are as excited as ever about our pipeline of innovative hardware, software and services. We’re looking forward to sharing more with developers and customers at Apple’s 30^th annual Worldwide Developers Conference in June.”

Adding further, Luca Maestri, CFO, Apple stated, “We generated operating cash flow of $11.2 billion in the March quarter and continued to make significant investments in all areas of our business. We also returned over $27 billion to shareholders through share repurchases and dividends. Given our confidence in Apple’s future and the value we see in our stock, our Board has authorized an additional $75 billion for share repurchases. We are also raising our quarterly dividend for the seventh time in less than seven years.”

In addition, Apple offered guidance for its fiscal 2019 third quarter indicating revenue between $52.5 billion and $54.5 billion, gross margin between 37 and 38% and operating expenses between $8.7 billion and $8.8 billion.