Apple Q2 revenues increase to US$45.6bn, reports US$10.2bn profit

23 Apr 2014

Apple's iOS 7 operating system on iPhones

Technology giant Apple reported second-quarter revenues of US$45.6bn, up from US$43.6bn a year ago. The company sold almost 44m iPhone devices and more than 16m iPads during the quarter.

The strong sales contributed to a quarterly net profit of US$10.2bn, up from US$9.2bn a year ago.

Gross margin was 39.3pc compared to 37.5pc a year ago.

International sales accounted for 66pc of the quarter’s revenue.

“We’re very proud of our quarterly results, especially our strong iPhone sales and record revenue from services,” said Tim Cook, Apple’s CEO.

“We’re eagerly looking forward to introducing more new products and services that only Apple could bring to market.”

During the second quarter, Apple sold 43.7m iPhone smartphones, 16.3m iPad tablet computers and 4.1m Mac computers.

US$21bn returned to shareholders during Q2

“We generated US$13.5bn in cash flow from operations and returned almost US$21bn in cash to shareholders through dividends and share repurchases during the March quarter,” said Peter Oppenheimer, Apple’s CFO.

“That brings cumulative payments under our capital return programme to US$66bn.”

Looking ahead to the third quarter, Apple is predicting revenues of between US$36bn and US$38bn.

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years