Apple has reported quarterly revenue of $58 billion, down 5% over last year with a net profit of $11.6 billion, down 15.94% YoY and earnings per diluted share of $2.46 for the financial year Q2 2019 that ended March 30, 2019. During earnings call Tim Cook said “For iPhone, while our worldwide revenue was down 17% from a year ago, declines were significantly smaller in the final weeks of the March quarter.”
- 31.1 billion iPhone revenue, down 17% YoY. Year-over-year performance improved relative to December quarter results in Greater China, in the Americas and in Japan. Installed base of iPhone reached a new all-time high at the end of March
- Mac revenue was $5.5 billion compared to $5.8 billion a year ago with the decline driven primarily by processor constraint on certain popular models. Double-digit Mac revenue growth in Japan and Korea setting new all-time Mac revenue records in both markets.
- iPad revenue was $4.9 billion and growth accelerating from the December quarter to 22%. iPad revenue grew in all five of our geographic segments, with a return to growth in Greater China and strong double-digit growth in all other segments.
- Overall, products revenue declined 9% driven primarily by iPhone
- $11.5 billion in revenue in Services sector, an increase of 16% from last year.
- Double-digit revenue growth across the App Store, Apple Music, cloud services, AppleCare, Apple Pay and App Store search ad business. Services accounted for 20% of March quarter revenue and about one-third of gross profit dollars.
- Over 390 million paid subscriptions across Services portfolio, an increase of 120 million versus just 12 months ago
- Wearables Home and Accessories revenue set a new March quarter revenue record of $5.1 billion fueled primarily by the strong performance of Wearables business, which grew close to 50%.
Apple expects revenue between $52.5 billion and $54.5 billion, operating expenses between $8.7 billion and $8.8 billion and gross margin between 37 and 38 percent for FY Q3 2019.