Live Blog Apple Q2 Live Blog
Apple earned $2.33 on $58 billion in revenue. Analysts surveyed by Thomson Reuters forecasted Apple to earn $2.16 a share on $56.06 billion in revenue. In the quarter, Apple sold 61.2 million iPhones, 12.6 million iPads and 4.6 million Macs, while gross margins came in at 40.8%.
We are thrilled by the continued strength of iPhone, Mac and the App Store, which drove our best March quarter results ever," said Tim Cook, Apple's CEO in the press release. "We're seeing a higher rate of people switching to iPhone than we've experienced in previous cycles, and we're off to an exciting start to the June quarter with the launch of Apple Watch."
For the second quarter, Apple said it expects to generate revenue between $46 billion and $48 billion, with gross margins between 38.5% and 39.5%, with operating expenses between $5.65 billion and $5.75 billion. Analysts are expecting sales of $47 billion.
The company also boosted its capital return program to $200 billion, up from $140 billion, which it expects to complete by March 2017. The dividend will be boosted by 11% to 52 cents per quarter.
"We believe Apple has a bright future ahead, and the unprecedented size of our capital return program reflects that strong confidence," Cook said. "While most of our program will focus on buying back shares, we know that the dividend is very important to many of our investors, so we're raising it for the third time in less than three years."
Apple shares closed up 1.8% on the day, finishing at $132.65.