Apple Reports Second Quarter Results

Apple Reports Second Quarter Results
Services Revenue Reaches New All-Time High of $11.5 Billion
Cupertino, California — April 30, 2019 — Apple today announced financial results for its fiscal 2019 second quarter ended March 30, 2019. The Company posted quarterly revenue of $58 billion, a decline of 5 percent from the year-ago quarter, and quarterly earnings per diluted share of $2.46, down 10 percent. International sales accounted for 61 percent of the quarter’s revenue.

“Our March quarter results show the continued strength of our installed base of over 1.4 billion active devices, as we set an all-time record for Services, and the strong momentum of our Wearables, Home and Accessories category, which set a new March quarter record,” said Tim Cook, Apple’s CEO. “We delivered our strongest iPad growth in six years, and we are as excited as ever about our pipeline of innovative hardware, software and services. We’re looking forward to sharing more with developers and customers at Apple’s 30th annual Worldwide Developers Conference in June.”

“We generated operating cash flow of $11.2 billion in the March quarter and continued to make significant investments in all areas of our business,” said Luca Maestri, Apple’s CFO. “We also returned over $27 billion to shareholders through share repurchases and dividends. Given our confidence in Apple’s future and the value we see in our stock, our Board has authorized an additional $75 billion for share repurchases. We are also raising our quarterly dividend for the seventh time in less than seven years.”

Reflecting the approved increase, Apple’s board of directors has declared a cash dividend of $0.77 per share of the Company’s common stock, an increase of 5 percent. The dividend is payable on May 16, 2019 to shareholders of record as of the close of business on May 13, 2019.

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 2019 third quarter:

  • revenue between $52.5 billion and $54.5 billion
  • gross margin between 37 percent and 38 percent
  • operating expenses between $8.7 billion and $8.8 billion
  • other income/(expense) of $250 million
  • tax rate of approximately 16.5 percent

Apple will provide live streaming of its Q2 2019 financial results conference call beginning at 2:00 p.m. PDT on April 30, 2019 at www.apple.com/investor/earnings-call/. This webcast will also be available for replay for approximately two weeks thereafter.

Apple periodically provides information for investors on its corporate website, apple.com, and its investors relations website, investor.apple.com. This includes press releases and other information about financial performance, reports filed or furnished with the SEC, information on corporate governance and details related to its annual meeting of shareholders.

This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include without limitation those about the Company’s estimated revenue, gross margin, operating expenses, other income/(expense), tax rate, and plans for return of capital. These statements involve risks and uncertainties, and actual results may differ. Risks and uncertainties include without limitation: the effect of global and regional economic conditions on the Company’s business, including effects on purchasing decisions by consumers and businesses; the ability of the Company to compete in markets that are highly competitive and subject to rapid technological change; the ability of the Company to manage frequent introductions and transitions of products and services, including delivering to the marketplace, and stimulating customer demand for, new products, services and technological innovations on a timely basis; the effect that shifts in the mix of products and services and in the geographic, currency or channel mix, component cost increases, increases in the cost of acquiring and delivering content for the Company’s services, price competition, or the introduction of new products or services, including new products or services with higher cost structures, could have on the Company’s gross margin; the dependency of the Company on the performance of distributors of the Company’s products, including cellular network carriers and other resellers; the inventory and other asset risks associated with the Company’s need to order, or commit to order, product components in advance of customer orders; the continued availability on acceptable terms, or at all, of certain components, services and new technologies essential to the Company’s business, including components and technologies that may only be available from single or limited sources; the dependency of the Company on manufacturing and logistics services provided by third parties, many of which are located outside of the US and which may affect the quality, quantity or cost of products manufactured or services rendered to the Company; the effect of product and services design and manufacturing defects on the Company’s financial performance and reputation; the dependency of the Company on third-party intellectual property and digital content, which may not be available to the Company on commercially reasonable terms or at all; the dependency of the Company on support from third-party software developers to develop and maintain software applications and services for the Company’s products; the impact of unfavorable legal proceedings, such as a potential finding that the Company has infringed on the intellectual property rights of others; the impact of changes to laws and regulations that affect the Company’s activities, including the Company’s ability to offer products or services to customers in different regions; the ability of the Company to manage risks associated with its international activities, including complying with laws and regulations affecting the Company’s international operations; the ability of the Company to manage risks associated with the Company’s retail stores; the ability of the Company to manage risks associated with the Company’s investments in new business strategies and acquisitions; the impact on the Company’s business and reputation from information technology system failures, network disruptions or losses or unauthorized access to, or release of, confidential information; the ability of the Company to comply with laws and regulations regarding data protection; the continued service and availability of key executives and employees; political events, international trade disputes, war, terrorism, natural disasters, public health issues, and other business interruptions that could disrupt supply or delivery of, or demand for, the Company’s products; financial risks, including risks relating to currency fluctuations, credit risks and fluctuations in the market value of the Company’s investment portfolio; and changes in tax rates and exposure to additional tax liabilities. More information on these risks and other potential factors that could affect the Company’s financial results is included in the Company’s filings with the SEC, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch and Apple TV. Apple’s four software platforms — iOS, macOS, watchOS and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay and iCloud. Apple’s more than 100,000 employees are dedicated to making the best products on earth, and to leaving the world better than we found it.

Press Contact
Kristin Huguet,Apple,khuguet@apple.com,(408) 974-2414
Investor Relations Contacts
Nancy Paxton,Apple,paxton1@apple.com,(408) 974-5420
Matt Blake,Apple,mattblake@apple.com,(408) 974-7406
© 2019 Apple Inc. All rights reserved. Apple and the Apple logo are trademarks of Apple Inc. Other company and product names may be trademarks of their respective owners.
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Don’t let your Apple Watch get damaged; get a case!

I love wearing my Apple Watch sans case. It looks good and is easily identifiable as an Apple Watch, which makes me feel like I’m part of a special club. However, I’m no dummy. I always keep a case or shell nearby in case I want to go on a nature hike, or if I’m doing some house painting. I want to be able to continue wearing my Apple Watch without fear of ruining its beautiful, stainless steel shine. If you feel the same way, take a look at these protective cases for Apple Watch.

Apple Watch Series 4

Heavy-duty protection

SUPCASE Unicorn Beetle Pro

Luke’s Favorite

This case has an easy front cover snap-on design, which makes installation a breeze. It even comes with a strap built-in, so you don’t have to worry about installing a new strap to use with it. It’s made from hard polycarbonate on the outside — to withstand hard bumps and scratches — and soft TPU on the inside, so that it doesn’t scratch up your Apple Watch. It comes in 40mm and 44mm sizes.

From $20 for 44mm at Amazon

Super comfortable

Catalyst Waterproof Case

Lory’s Favorite

The Catalyst Waterproof Case is, by far, the most comfortable watch case I’ve ever worn. The bands are connected with hinges instead of a one-piece mold. Though it makes the overall look of your Apple Watch slightly larger, it’s not cumbersome at all. I’ve worn the Catalyst on my wrist for weeks at a time without feeling like it was too big or uncomfortable. It comes in both 40mm and 44mm sizes.

$70 for 44mm at Amazon

This ultimate tank

Catalyst Impact

This heavy-duty all-in-once case and band combo is meant to stand up against major impact, and it’s been drop-tested up to 9.9 feet. A cut-out on the back ensures your Apple Watch retains the ability to monitor your heart activity. If you still want a screen protector, there is room for that too. The included band is a breathable sports band. It comes in both 40mm and 44mm sizes.

$50 for 44mm at Amazon

Crystal clear protection

i-Blason Halo

This thin TPU case fits snuggly around your Apple Watch Series 4 and protects the sides of your watch from getting dinged or dented. It even has a raised lip around the screen, so should you ever put your Apple Watch face down on a surface, it will protect it! The cutouts at the top and bottom make it easy to swap bands so that you can use this case with any of your favorite bands! It comes in both 40mm and 44mm sizes.

$10 for 44mm at Amazon

Simple screen protector

SUPCASE TPU cover

If you want something that protects your screen without being big and bulky, the SUPCASE TPU cover is a great option. This cover slips right over your Apple Watch, covering the entire screen and the sides of the watch, all while leaving the digital crown and bands slots free and open to use as normal. It comes in both 40mm and 44mm sizes.

$13 for 44mm at Amazon

Ultimate coverage

Spidercase 360 Degrees

Protect every nook and cranny of your Apple Watch with this ultra-rugged iPhone case and band. The case is made of heavy-duty hard plastic and the band is made of flexible silicone. It also has a built-in screen protector to keep your display looking shiny and new. It comes in 40mm and 44mm sizes.

$16 for 40mm at Amazon

Apple Watch Series 2 & Series 3

Heavy-duty protection

SUPCASE Unicorn Beetle Pro

Luke’s Favorite

This case has an easy front cover snap-on design, which makes installation a breeze; you don’t have to try and slide the straps through flexible silicone. It’s made from hard polycarbonate on the outside — to withstand hard bumps and scratches — and soft TPU on the inside, so that it doesn’t scratch up your Apple Watch.

From $18 for 42mm at Amazon

Comfortable pick

Catalyst Waterproof Case

Lory’s Favorite

The Catalyst Waterproof Case is, by far, the most comfortable watch case I’ve ever worn. The bands are connected with hinges instead of a one-piece mold. Though it makes the overall look of your Apple Watch slightly larger, it’s not cumbersome at all. I’ve worn the Catalyst on my wrist for weeks at a time without feeling like it was too big or uncomfortable. It comes in both 38mm and 42mm sizes.

$70 for 42mm at Amazon

Super snug fit

Spigen Rugged Armor

Name the phone or accessory and, chances are, Spigen makes a case for it — and a great one at that. It goes on easily and holds tight; you won’t feel it wriggling around on your Apple Watch. The Digital Crown is left completely open and is entirely unhindered, thanks to the Rugged Armor’s great fit. A metal button covers your Apple Watch’s Side Button but doesn’t interfere with functionality, which means the scratchable surfaces are covered all the way around. It comes in both 38mm and 42mm sizes.

$12 for 42mm at Amazon

Armband case

Twelve South ActionSleeve

If you’re a heavy lifter, a contact sports enthusiast, or don’t have a wrist to wear an Apple Watch on, you’ll be happy to see what Twelve South has to offer. If you’ve always wanted to be able to use your Apple Watch while punching a bag, lifting weights, or playing rugby but don’t want it getting in the way, check out the ActionSleeve. It’ll keep track of your fitness while staying away from your wrist. It comes in both 38mm and 42mm sizes.

From $20 at Amazon

Sleek protection

i-Blason Unity

Most rugged cases look … well … rugged. The Unity from i-Blason is different. It protects the aluminum or stainless steel of your Apple Watch while keeping a slimmer profile. It’s made of shock-absorbing rubber and the Side button is hidden to protect it from dust and debris. This only comes in 42mm.

From $15 at Amazon

Magnetic clamp

Uniya Magnetic Frame

I love magnetic cases because they’re so easy to put on and take off. I have a Uniya for my iPhone XS. This bumper case is made from aluminum and has magnets that zip it closed so there is no fiddling about with straps. It’s available for all Apple Watch sizes.

$12 at Amazon

Our personal picks

Luke prefers the SUPCASE Unicorn Beetle Pro because it’s the most complete case (it even comes with a band) that gives you the confidence that your Apple Watch won’t get damaged.

Lory’s favorite is the Catalyst Waterproof Case because it’s so comfortable that you almost forget you’re wearing a big case, but its all-over protection means you can swim, dirt bike, and even paint your house with it and it will keep your Apple Watch in pristine condition.

Any case you get is going to give you peace of mind when you are in the midst of doing a rigorous and potentially dangerous activity. Just make sure you are getting the right size for the right model before you hit that buy button!

https://www.imore.com/best-apple-watch-cases