Apple Earnings Get Massive Boost on iPhone Sales

You might say Apple is hitting on all iCylinders. Under CEO Tim CookEUs leadership, the company that many thought would struggle after the death of its iconic cofounder Steve Jobs is setting new second quarter records. And the Apple Watch revenues arenEUt even part of the story yet.

Apple on Tuesday announced financial results for its fiscal 2015 second quarter ended March 28, 2015. The company posted quarterly revenue of $58 billion and quarterly net profit of $13.6 billion. ThatEUs $2.33 per diluted share.

ThatEUs remarkable, especially considering the impressive year-ago quarter revenues of $45.6 billion and net profit of $10.2 billion. Here are a few additional telling stats: Gross margin was 40.8 percent compared to 39.3 percent in the year-ago quarter. And international sales accounted for 69 percent of the quarterEUs revenue.

More Growth Coming

EUWe are thrilled by the continued strength of iPhone, Mac and the App Store, which drove our best March quarter results ever,EU said Cook. EUWeEUre seeing a higher rate of people switching to iPhone than weEUve experienced in previous cycles, and weEUre off to an exciting start to the June quarter with the launch of Apple Watch.EU

ItEUs not surprising that the iPhone, Mac and App Store saw strong repeat performances this quarter. Record second quarter sales of iPhone and Mac and an all-time record performance of the App Store fueled the historic increases. Together, they drove 27 percent of the revenue growth and 40 percent of the EPS (earnings per share) growth.

Luca Maestri, AppleEUs CFO, said cash flow from operations was also outstanding at $19.1 billion. What does Apple expect for its fiscal 2015 third quarter? In two words: more growth. Apple is predicting revenue between $46 billion and $48 billion, gross margin between 38.5 percent and 39.5 percent, and operating expenses between $5.65 billion and...

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