Apple posts Q2 results: Profit crushes estimates, revenue climbs despite lack of new launches
Earnings season is now in full swing and as always, Apple’s are the most hotly anticipated results in the technology sector. This time around, however, it’s not because industry watchers want to see how impressive the company’s most recent quarter was, but because the world wants to see how Apple is doing after not having released a notable new product since this past November. Last year, CEO Tim Cook promised new launches in “exciting new product categories” across 2014, and he will undoubtedly promise exciting new products again on Wednesday’s earnings call. But so far, we’ve seen exactly nothing new or exciting from Apple in 2014.
Were last year’s iPhone 5s, iPad Air and Retina iPad mini launches enough to carry Apple in the March quarter? The numbers are now in and we can finally answer that question.
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Apple on Wednesday reported its results for the second fiscal quarter of 201. The company posted a profit of $11.62 per share on revenue totaling $45.6 billion, in line with Apple’s own revenue guidance of between $42 billion and $44 billion for the quarter. Apple’s results crushed analysts’ consensus estimates, which were looking for earnings of $10.18 per share on $43.53 billion in sales according to Yahoo Finance.
In the same quarter last year, Apple managed a $9.5 billion profit on $43.6 billion in revenue.
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This article was originally published on BGR.com
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