Apple Q2 2017: $52.9B revenue, 50.8M iPhones + 8.9M iPads sold

Apple reported its second quarter 2017 financial results today, with 50.8 million iPhones and 9.8 million iPads sold. The company posted quarterly revenue of $52.9 billion and quarterly earnings of $2.10 per diluted share. In Q2 2016, Apple had revenue of $50.6 billion and earnings of $1.90 per diluted share.

For Q3 2017, Apple is providing guidance of revenue between $43.5 billion and $45.5 billion, and gross margin between 37.5 percent and 38.5 percent. Apple’s earnings call will begin at 5 p.m. Eastern time, and can be heard live on the company’s investor website. We’ll have a recap shortly after.
“We are proud to report a strong March quarter, with revenue growth accelerating from the December quarter and continued robust demand for iPhone 7 Plus,” said Tim Cook, Apple’s CEO. “We’ve seen great customer response to both models of the new iPhone 7 (PRODUCT)RED Special Edition and we’re thrilled with the strong momentum of our Services business, with our highest revenue ever for a 13-week quarter. Looking ahead, we are excited to welcome attendees from around the world to our annual Worldwide Developers Conference next month in San Jose.”

“We generated strong operating cash flow of $12.5 billion and returned over $10 billion to our investors in the March quarter,” said Luca Maestri, Apple’s CFO. “Given the strength of our business and our confidence in our future, we are happy to announce another $50 billion increase to our capital return program today.”

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