APPLE ( iPhone 7, iPhone 7 Plus, and Apple Watch 2) PROFITS, 2016

24 April, 2017 | Kendra
APPLE ( iPhone 7, iPhone  7 Plus, and Apple Watch 2) PROFITS, 2016

In the first quarter of fiscal 2016, the tech giant, Apple company recorded a 18.4 billion dollar profit translating to 3.06 dollar worth of a diluted share. The profit had increased from the 18 billion dollar profit of the first quarter of fiscal 2015. Apple’s margin was 40.1 in this quarter having been pushed high by its best selling devices which include the iPhone, iPad, and Mac. The company’s CEO, Tim Cook attributed the success mostly to the iPhone Apple Watch and Apple TV which he referred to the world’s most innovative products. The company generated a 27.5 billion dollar cash flow and returned over 7 billion dollars to investors and completed 155 billion dollars of their 200 billion dollar capital return program.

Apple’s second quarter earnings for fiscal 2016, ended on April 26th recorded a decline for the first time in 13 years. For the first time too, the iPhone sales declined, a factor which was considered as a major reason behind the decline. Their revenue declined by 9% from the previous year’s second quarter, coming down from 58 billion dollars to between 50 and 53 billion dollars. Other sources of income were, however, supportive in this quarter generating 4.3 billion dollars for the company. Their shares declined by 8%. The net income was 10.5 billion dollars translated as 1.90 dollar per share. They generated 11.6 billion cash flow and their gross margin dropped to 39.4%.

Apple

For its 2016 third quarter ended in June 25, 2016, Apple posted quarterly revenue of 42.4 billion dollars and a quarterly net income of 7.8 billion dollars which translates to 1.42 dollars for each diluted share. The company’s gross margin was 38% which dropped from the 39.7% of the previous fiscal quarter. The CEO mentioned the successful launch of iPhone SE as one major achievement of the quarter that contributed to the maintaining of high profits of the company. The company’s service business growth was by 19% during this quarter , the company returned over 13 billion dollars to investors and completed 177billion of it 250 billion dollar program.

In October 2016, in Cupertino, California Apple company announced the financial results for its fiscal 2016 fourth quarter which ended on the twenty fourth date of September the same year. The company declared a $46.9 billion quarterly revenue and 9 billion dollars as their net income which interprets to 1.67 dollars per diluted share. The quarter saw the company record an all-time revenue growth of 24 percent. The company’s Chief Financial Officer, Luca Maestri, gladly announced that their generation of 16.1 billion dollars in operating cash flow, setting an all-time record for that too. The company also announced a completion of over 186 billion dollars of their capital return program as well as the return of 9.3 billion dollars to investors through dividends and share repurchases. The company also admitted that sixty two percent of the quarter’s revenue was generated from international sales, with the CEO attributing much of the success to the customer’s thrilling response to iPhone 7, iPhone 7 Plus, and Apple Watch Series 2.

Apple established that they are planning to operate on expenses between 6.9 billion to 7 billion in the first quarter of 2017, generate a 76 billion to 78 billion dollar revenue and 400 million dollars from other incomes, a gross margin between 38% and 38.5% as well as to pay a tax rate of 26%. The Company’s Board of directors established a 0.57 dollar cash dividend per share of the Company’s common stock which they declared as payable on the tenth date of November 2016, two days after their business closure which went down on the 7th of November.

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