Apple has just published its financial results for Q2 2019, which is the company’s holiday quarter. The company posted revenue of $58 billion. Apple CEO Tim Cook said:
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.
Estimates and Expectations for Q2 2019 and the Year-Ago Quarter (Q2 2018)
Apple’s revenue guidance for Q2 2019 fell between $55 billion and $59 billion, with gross margin estimated to be between 37% and 38%.
Going into today’s earnings call, Yahoo Finance reported that:
Apple’s Q2 revenue is projected to slip 5.9% from the year-ago period to hit $57.54 billion, based on our current Zacks Consensus Estimate. More specially, second-quarter iPhone revenue is projected to fall roughly 18% from $38.03 billion in the year-ago period to $31.22 billion, based on our current NFM estimates.
Meanwhile, sales in Greater China are expected to come in at $12.07 billion, which would mark a roughly 7.3% decline from Q2 2018. Luckily for Apple, its Services unit is projected to surge approximately 21% from $9.19 billion to hit $11.16 billion. This would come in above last quarter’s 19% expansion in the increasingly important growth division.
In the year-ago quarter (Q2 2018), Apple earned $61.1 billion in revenue. During that quarter Apple sold 52.2 million iPhones, 9.1 million iPads, and 4.1 million Macs. As announced on Apple’s Q4 2018 earnings call, the company no longer reports unit sales for any of its products.
Below, we’ve compiled a graphical visualization of Apple’s Q2 2019 financial results.