As expected, Apple is out with its financial report for Q2 2014 this afternoon. In a press release issued just a few moments ago, Apple announced that it sold 43.7 million iPhones, 16.3 million iPads, and pulled in $45.6 billion in revenue during its fiscal Q2.
Other than iPad sales, Apple beat the Street estimates by a wide margin. The Cupertino company also announced an accelerated strategy for its stock buyback plans, adding an additional $30 billion to the pot (for a total of $90 billion), as well as a 7-1 stock split…
Here is the full breakdown of Apple’s Q2 earnings:
- iPhones: 43.7 million versus 37.7 million expected
- iPads: 16.35 million versus 19.7 million units expected
- Macs: 4.1 million versus 4.03 million expected
- iPods: 2.76 million versus 2.99 million expected
- Revenue: $45.6 billion versus $43.6 billion expected
And here are some comments from CEO Tim Cook and CFO Peter Oppenheimer:
“We’re very proud of our quarterly results, especially our strong iPhone sales and record revenue from services,” said Tim Cook, Apple’s CEO. “We’re eagerly looking forward to introducing more new products and services that only Apple could bring to market.”
“We generated $13.5 billion in cash flow from operations and returned almost $21 billion in cash to shareholders through dividends and share repurchases during the March quarter,” said Peter Oppenheimer, Apple’s CFO. “That brings cumulative payments under our capital return program to $66 billion.”
The last time Apple split its stock was back in 2005. Shareholders will receive six additional shares for each share they hold and the share price will drop to around $80. The company also increased the dividend by 8% per share, and says it plans to do so yearly.