Apple reports record Q2

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Apple has announced financial results for its fiscal 2018 second quarter ended March 31st 2018. The Company posted quarterly revenue of $61.1 billion (€50.9m), an increase of 16 per cent from the year-ago quarter, and quarterly earnings per diluted share of $2.73, up 30 per cent. International sales accounted for 65 per cent of the quarter’s revenue.

“We’re thrilled to report our best March quarter ever, with strong revenue growth in iPhone, Services and Wearables,” said Tim Cook, Apple’s CEO. “Customers chose iPhone X more than any other iPhone each week in the March quarter, just as they did following its launch in the December quarter. We also grew revenue in all of our geographic segments, with over 20 per cent growth in Greater China and Japan.”

“Our business performed extremely well during the March quarter, as we grew earnings per share by 30 per cent and generated over $15 billion in operating cash flow,” said Luca Maestri, Apple’s CFO. “With the greater flexibility we now have from access to our global cash, we can more efficiently invest in our US operations and work toward a more optimal capital structure. Given our confidence in Apple’s future, we are very happy to announce that our Board has approved a new $100 billion share repurchase authorisation and a 16 per cent increase in our quarterly dividend.”


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