Wednesday, April 23rd 2014

Apple Reports Second Quarter Results

Apple today announced financial results for its fiscal 2014 second quarter ended March 29, 2014. The Company posted quarterly revenue of $45.6 billion and quarterly net profit of $10.2 billion, or $11.62 per diluted share. These results compare to revenue of $43.6 billion and net profit of $9.5 billion, or $10.09 per diluted share, in the year-ago quarter. Gross margin was 39.3 percent compared to 37.5 percent in the year-ago quarter. International sales accounted for 66 percent of the quarter's revenue.

"We're very proud of our quarterly results, especially our strong iPhone sales and record revenue from services," said Tim Cook, Apple's CEO. "We're eagerly looking forward to introducing more new products and services that only Apple could bring to market."

"We generated $13.5 billion in cash flow from operations and returned almost $21 billion in cash to shareholders through dividends and share repurchases during the March quarter," said Peter Oppenheimer, Apple's CFO. "That brings cumulative payments under our capital return program to $66 billion."

Apple is providing the following guidance for its fiscal 2014 third quarter:
  • revenue between $36 billion and $38 billion
  • gross margin between 37 percent and 38 percent
  • operating expenses between $4.4 billion and $4.5 billion
  • other income/(expense) of $200 million
  • tax rate of 26.1 percent
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3 Comments on Apple Reports Second Quarter Results

Tim should be looking at another $700 Million in annual compensation for using Chinese slave labor...
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pr0n Inspector
Jorge said:
Tim should be looking at another $700 Million in annual compensation for using Chinese slave labor...
Good joke.

Because clearly subsistence farming is so much better than working in an moerdern electronics factory that the Chinese are lining up to work at Foxconn.
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Jorge said:
Tim should be looking at another $700 Million in annual compensation for using Chinese slave labor...
So Apple should foot the entire bill for a company that makes he vast majority of electronics for most of the worlds brands? Foxconn makes most of the OEM motherboards for HP, Dell, Acer, and Lenovo. They made the Playstation 3 for Sony, the Wii for nintendo, Amazon's kinde and B&N's nook. They make TVs for Sony, Sharp, Vizio, Philips, and Toshiba. Networking equipment for Cisco & Netgear. They make phones for Nokia, Motorola, Huawei, Sony, ASUS, and Apple. They make consumer motherboards for Acer, ASRock, ASUS, and products from EVGA and MSI. I believe they even made motherboards for Intel until Intel decided to drop focus on that division.

And that's just a partial list of products Foxconn makes for other companies... And considering many of those products are made in the same factory, side by side with Apple's products.

But yea, it is only fair that Apple take all the blame, and pay all the costs associated with how Foxconn treats their workers, and runs their factories. I have no problem with people hating Apple, but it is just silly to pass all the blame to them when something happens at these factories. Hell the only reason we hear about these incidents is because Apple is a high profile company, and they perform regular audits of their supply and manufacturing partners. I bet if all these other brands did the same, we'd never hear the end of Foxconn's abuse towards its employees, and their government's willingness to turn a blind eye to it...
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