Apple has today released its report on its financial performance in the Second Quarter of 2014, with some rather excellent results.
Apple’s quarterly revenue reached a staggering $45.6 billion, and a quarterly net profit of over $10 billion! That makes for some nice year on year growth, in the same quarter last ear, Apple’s revenue came in at $43.6 billion, with net profits of $9.5 billion. We’ve become very accustomed to seeing Apple produce incredibly healthy financial results with staggering consistency, and at Today’s iPhone, we’ve found ourselves repeatedly amused by calls from analysts and onlookers postulating that Apple may be at sometime headed towards financial difficulty. $45.6 billion? Apple is doomed!
In today’s press release, CEO Tim Cook stated:
“We’re very proud of our quarterly results, especially our strong iPhone sales and record revenue from services… We’re eagerly looking forward to introducing more new products and services that only Apple could bring to market.”
Apple’s CFO Peter Oppenheimer claimed that Apple generated around $13.5 billion in cash flow from operations, and returned a further $21 billion in cash to shareholders through dividends and buy backs this quarter, making its capital payouts total around $66 billion. It would seem that there isn’t a bad time to own Apple stock.
Looking ahead, Apple offered fiscal predictions for the next quarter, with revenue predicted to fall between $36 billion and $38 billion. Apple’s third quarters are understandably a little quieter than others, with most customers holding back on investing in Apple with new products just around the corner. However, WWDC is now fast approaching, so you can expect that with releases of brand new Apple software (and maybe products too), there’ll be a great deal of excitement and chatter to look forward to in the coming months!
For now, rest assured that Apple is performing extremely well financially. You can read the full official press release here!