Apple Reports Latest Financials and Celebrates 2015 as the Most Successful Year in the Company's History
Yesterday we reported that analysts tracked by FactSet anticipated that Apple would report quarterly profit of $1.87, 32% above year-ago earnings per share of $1.42. Wall Street expects sales of 48 million to 49 million iPhones, which would greatly top last year's shipment of 39 million iPhone 6 models in its first quarter. So what did Apple actually deliver? According to Apple's press release, they posted a quarterly profit of $11.1 billion or $1.96 per diluted share. The number of iPhones sold is noted as being 48 million which is in line with expectations.
According to Apple's press release, fiscal 2015 was their most successful year ever, with revenue growing 28% to nearly $234 billion. Tim Cook, Apple's CEO stated that "This continued success is the result of our commitment to making the best, most innovative products on earth, and it's a testament to the tremendous execution by our teams. We are heading into the holidays with our strongest product lineup yet, including iPhone 6s and iPhone 6s Plus, Apple Watch with an expanded lineup of cases and bands, the new iPad Pro and the all-new Apple TV which begins shipping this week."
Luca Maestri, Apple's CFO stated that "Apple's record September quarter results drove earnings per share growth of 38% and operating cash flow of $13.5 billion. We returned $17 billion to our investors during the quarter through share repurchases and dividends, and we have now completed over $143 billion of our $200 billion capital return program."
Apple Guidance for Fiscal 2016 Q1
• Revenue: between $75.5 billion and $77.5 billion
• Gross Margin: between 39 percent and 40 percent
• Operating expenses: between $6.3 billion and $6.4 billion
• Other income/(expense): of $400 million
• Tax rate of 26.2 percent
Apple's stock is currently up 2% after the announcement. We'll update this figure after the conference call should it change dramatically either way.
Unaudited Condensed Consolidated Statements of Operation
About Making Comments on our Site: Patently Apple reserves the right to post, dismiss or edit any comments. Comments are reviewed daily from 4am to 6pm PST and sporadically over the weekend.