Apple’s Q2 2018 Results: $61.1 Billion Revenue & $13.8 Billion Profit

Today, Apple announced their financial results for their second fiscal quarter, and first calendar quarter of 2018. Apple posted a revenue of $61.1 billion, and net profit of $13.8 billion for the quarter, with $2.73 per diluted share. Compare that to Q2 2017, in which Apple posted revenue of $52.9 billion, and profit of $11 billion with $2.10 per diluted share for the quarter. Apple’s Q2 2018 delivered gains across the board for a 15.5% increase in revenue, and a 25.45% increase in profit, showing a significant increase. Gross Margin was at 38.3% compared to 38.9% the year ago quarter, and 65% of sales were international.

Apple’s guidance for this quarter was between $60–62 billion billion, so they came in at the middle of that range. As far as unit sales, the iPhone reached 52.2 million units in the quarter, compared to 50.8 million from the year ago quarter. Apple sold 9.1 million iPads, down from the 8.9 million in Q2 2017. Apple also sold 4.1 million Macs, which is just down from the 4.1 million in the year ago quarter. Apple’s guidance for the third quarter of 2018 offers expected revenue of $51.5–53.5 billion, and gross margin between 38 and 38.5%.

As CEO Tim Cook describes,

“We’re thrilled to report our best March quarter ever, with strong revenue growth in iPhone, Services and Wearables. 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.”

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