Apple's second quarter net profit of 11 billion US dollars increased by 5%
Electronic enthusiasts eight o'clock: According to foreign reports, Apple released the company's fiscal second quarter results for the second quarter of fiscal 2017. The financial report showed that Apple's second-quarter revenue was 52.896 billion US dollars, up 5% from the same period last year's 50.557 billion US dollars; net profit was 11.029 billion US dollars, an increase of 5% over the same period last year of 10.516 billion US dollars. Among them, Greater China revenue was 10.726 billion US dollars, down 14% from 12.48 billion US dollars in the same period last year.
Detailed performance:
In the second fiscal quarter ended April 1, 2017, Apple's net profit was $11.029 billion, up 5% from the same period last year; diluted earnings per share were $2.10, better than the same period last year. In the second fiscal quarter of fiscal 2016, Apple's net profit was $10.516 billion, and diluted earnings per share were $1.90.
Apple's second-quarter operating profit was $14.97 billion, up from $139.87 billion in the same period last year.
Apple's second-quarter revenue reached 52.896 billion US dollars, up 5% from the 50.557 billion US dollars in the same period last year.
Apple's second-quarter earnings per share exceeded market expectations, but revenue was less than Wall Street analysts had expected. According to a Thomson Reuters survey, analysts had expected Apple's second-quarter earnings per share to be $2.02, with revenues of $52.97 billion.
Apple’s second-quarter operating expenses were $6.494 billion, up from $5.934 billion in the same period last year. Among them, R&D expenditure was US$2.776 billion, up from US$2.511 billion in the same period of last year; sales, general and administrative expenses were US$3.718 billion, up from US$3.423 billion in the same period last year.
By product:
· Apple sold 4.199 million Macs in the second quarter, down 22% from the previous quarter's 5.844 million units, down 13% from 5.533 million units in the same period last year; revenue was $5.844 billion, compared to the previous quarter. The $7.244 billion fell 19%, up 4% from $4.034 billion in the same period last year.
· A total of 50.763 million iPhones were sold, down 35% from the previous quarter's 78.09 million, down 1% from 51.393 million in the same period last year; revenue was $33.249 billion, down from the previous quarter's $54.378 billion. 39%, up 1% from the previous year's $32.857 billion.
· A total of 8.922 million iPads were sold, down 32% from the previous quarter's 13.081 million units, down 13% from 10.051 million units in the same period last year; revenues were $3.889 billion, down from $5.533 billion in the previous quarter. 30%, down 12% from 4.413 billion in the same period last year.
· Revenue from services was $7.041 billion, down 2% from $7.172 billion in the previous quarter and 18% from $5.991 billion in the same period last year.
· Other product revenues were $2.873 billion, down 29% from $4.024 billion in the previous quarter and 31% from $2.189 billion in the same period last year.
By region:
· Apple’s second-quarter revenue in the Americas segment was $11.157 billion, down 34% from the previous quarter’s $31.968 billion, and 11% from $19.096 billion in the same period last year;
· European revenues were $12.733 billion, down 34% from $15.521 billion in the previous quarter and up 10% from $11.535 billion in the same period last year;
· Greater China revenue was $10.726 billion, down 34% from $16.233 billion in the previous quarter and 14% from $11.535 billion in the same period last year;
· Japanese revenues were $4.485 billion, down 22% from $5.766 billion in the previous quarter and up 5% from $4.281 billion in the same period last year;
· Revenues in other parts of the Asia Pacific region were $3.795 billion, down 35% from $5.863 billion in the previous quarter and up 20% from $3.159 billion in the same period last year.
Performance expectation:
Apple made the following expectations for the third fiscal quarter of fiscal 2017:
· Revenue from $43.5 billion to $45.5 billion;
· The gross profit margin is 37.5% to 38.5%;
· Operating expenses range from $6.6 billion to $6.7 billion;
· Other income (expenditure) is $450 million;
· The tax rate is 25.5%.
Capital return plan:
Apple’s board of directors announced that the board of directors has authorized the company to increase its capital return plan to shareholders by $50 billion. According to the latest return plan, Apple plans to return a total of $300 billion to shareholders by the end of March 2019.
Luca Maestri, Apple's chief financial officer, said, "The company's second-quarter operating cash flow reached $12.5 billion, and the cash returned to shareholders exceeded $10 billion. Based on our business strength. And with confidence in the future, we are pleased to announce that we will increase our capital return plan by another $50 billion."
According to the latest capital return plan, Apple's board of directors has authorized the stock repurchase program to increase from $175 billion a year ago to $210 billion. Apple’s board of directors also approved a 10.5% increase in the company’s quarterly dividend, announcing that it will distribute a cash dividend of $0.63 per share to the company’s common shareholders. The equity registration date of this dividend is the closing date of May 15, 2017, and the issuance date is May 18, 2017.
From Apple's introduction of the capital return plan in August 2012 to March 2017, Apple has returned more than $211 billion in cash to shareholders, including $151 billion in repurchase of company stock.
Executive Comments:
Apple CEO Timm Cook said: "We are proud of the company's strong second-quarter performance. Compared with the previous quarter, the company's revenue growth accelerated, and the market is right The demand for the iPhone 7 Plus is still strong. Consumers are very positive about the two red special editions of the iPhone 7. We are very excited about the strong momentum of the service business, and the 13-week revenue of this business has reached a record high. In the future, we are pleased to welcome participants from all over the world to participate in the annual Global Developers Conference in San Jose next month."
Stock price performance:
Apple's share price rose $0.93 in regular trading on the Nasdaq Stock Market on Tuesday, or 0.63%, to close at $147.51. Apple's stock price hit a record high of $148.09, a 52-week high. At the time of the press release, in the subsequent after-hours trading, due to the lack of market expectations, Apple's stock price fell 2.71 US dollars, a decrease of 1.84%, the stock price was 144.80 US dollars. In the past 52 weeks, Apple's lowest share price was $89.47, and the highest share price was $148.09. According to Tuesday's closing price, Apple's market value is about 773.92 billion US dollars.
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