Apple reported its second quarter 2018 financial results today, with 52.2 million iPhones and 9.1 million iPads sold. The company posted quarterly revenue of $61.1 billion and quarterly earnings of $2.73 per diluted share. In Q2 2017, Apple had revenue of $52.9 billion and earnings of $2.10 per diluted share.
For Q3 2018, Apple is providing guidance of revenue between $51.5 billion and $53.5 billion, and gross margin between 38 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’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% growth in Greater China and Japan.”
Our business performed extremely well during the March quarter, as we grew earnings per share by 30 percent 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 authorization and a 16 percent increase in our quarterly dividend.”