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Apple Reports Second Quarter FY2016 Results

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Apple today announced financial results for its fiscal 2016 second quarter ended March 26, 2016. The Company posted quarterly revenue of $50.6 billion and quarterly net income of $10.5 billion, or $1.90 per diluted share. These results compare to revenue of $58 billion and net income of $13.6 billion, or $2.33 per diluted share, in the year-ago quarter. Gross margin was 39.4 percent compared to 40.8 percent in the year-ago quarter. International sales accounted for 67 percent of the quarter's revenue.

"Our team executed extremely well in the face of strong macroeconomic headwinds," said Tim Cook, Apple's CEO. "We are very happy with the continued strong growth in revenue from Services, thanks to the incredible strength of the Apple ecosystem and our growing base of over one billion active devices."



The Company also announced that its Board of Directors has authorized an increase of $50 billion to the Company's program to return capital to shareholders. Under the expanded program, Apple plans to spend a cumulative total of $250 billion of cash by the end of March 2018.

"We generated strong operating cash flow of $11.6 billion and returned $10 billion to shareholders through our capital return program during the March quarter," said Luca Maestri, Apple's CFO. "Thanks to the strength of our business results, we are happy to be announcing today a further increase of the program to $250 billion."

As part of the updated program, the Board has increased its share repurchase authorization to $175 billion from the $140 billion level announced last year. The Company also expects to continue to net-share-settle vesting restricted stock units.

The Board has approved an increase of 10 percent to the Company's quarterly dividend, and has declared a dividend of $.57 per share, payable on May 12, 2016 to shareholders of record as of the close of business on May 9, 2016.

From the inception of its capital return program in August 2012 through March 2016, Apple has returned over $163 billion to shareholders, including $117 billion in share repurchases.

The Company plans to continue to access the domestic and international debt markets to assist in funding the program. The management team and the Board will continue to review each element of the capital return program regularly and plan to provide an update on the program on an annual basis.

Apple is providing the following guidance for its fiscal 2016 third quarter:
  • revenue between $41 billion and $43 billion
  • gross margin between 37.5 percent and 38 percent
  • operating expenses between $6 billion and $6.1 billion
  • other income/(expense) of $300 million
  • tax rate of 25.5 percent

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Wait, only net income of 10.5 billion? They should fire 12,000 employees. That could have been 10.8 billion.
 

dorsetknob

"YOUR RMA REQUEST IS CON-REFUSED"
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Dorset where else eh? >>> Thats ENGLAND<<<
  • tax rate of 25.5 percent
That is until they funnel it through Ireland/Belgium/ caymen islands /BVI /Luxomberg for the Double Dutch Irish creamBelgium Bun Supersize Sandwich tax deal
and probably only pay <1%
why
because we eventually operated at a loss Uncle Sam Said Apple PLEASE GIVE US TAX BREAKS or we lay off Staff
Its All That IP and Patent Royalties we have to Pay that Cause us to Lose Money
 

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Government help the schools around here so they can get the over priced hardware cheaper lmao, how ever the students cannot afford to buy the shit for hom,e work reasons so the govenment payed extra for our kid and other to have a $450 ipad which to me ducks balls.
 
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Government help the schools around here so they can get the over priced hardware cheaper lmao, how ever the students cannot afford to buy the shit for hom,e work reasons so the govenment payed extra for our kid and other to have a $450 ipad which to me ducks balls.
Someone is very rich from making these contracts. Apple is attempting to lock the market artificially. It's even worse when they pretend to help. This is the case in undeveloped countries where stuff is going to be distributed for free or cheap. Gotta get them drinking only coke, using only windows and intel, internet ran by Zuckerberg and apparently kids using Apple.

Sorry, assholes, your shit sucks.

We're beyond bankrupt, but can buy an insane amount of expensive tablets for kids to break...riiiight.
 
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Wait, only net income of 10.5 billion? They should fire 12,000 employees. That could have been 10.8 billion.
company loss income fire employee, gain profit fire employee anyway
this could be a trend in 2016?
 

Frick

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Someone is very rich from making these contracts. Apple is attempting to lock the market artificially. It's even worse when they pretend to help. This is the case in undeveloped countries where stuff is going to be distributed for free or cheap. Gotta get them drinking only coke, using only windows and intel, internet ran by Zuckerberg and apparently kids using Apple.

Sorry, assholes, your shit sucks.

We're beyond bankrupt, but can buy an insane amount of expensive tablets for kids to break...riiiight.
To be fair I think laptops/devices for the kids don't add to the budget that much. It's already crazy expensive. And the main difference in Apple pricing and, say Samsung pricing is that Apple takes a bigger cut of the cake. Retailers sell Samsung at a ~25% margin and Apple stuff at a ~12% margin (which is why they make obscene amounts of money). I imagine schools can take the price down a lot if buying in bulk directly from Apple. I have no idea of actual prices though, so I might be entirely wrong.
 
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$40billion down the drain
This is why I have always believed that stock market have serious issues.
Kneejerk reaction about... nothing? When company generates net income in billions and has 200 billion reserves they are not going down. Apple has so much cash that they could end Macs and iOS devices and start new company with 180 degree turn.
 

MxPhenom 216

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That is until they funnel it through Ireland/Belgium/ caymen islands /BVI /Luxomberg for the Double Dutch Irish creamBelgium Bun Supersize Sandwich tax deal
and probably only pay <1%
why
because we eventually operated at a loss Uncle Sam Said Apple PLEASE GIVE US TAX BREAKS or we lay off Staff
Its All That IP and Patent Royalties we have to Pay that Cause us to Lose Money
Bernie Sanders will take care of that. Wait hes losing so likely not. :p
 
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