APPLE ANNOUNCED iPhone and iPad sales of 43.7 million and 16.3 million for its second fiscal quarter during its earnings call on Wednesday, with revenue coming in above analyst expectations.
iPhone sales were down quarter on quarter, with Apple having reported sales of 51 million in January, but they were up from the 37.4 million sold in the first calendar quarter of 2013. iPad sales were down across the board however, with Apple having sold 26 million in its first fiscal quarter and 19.5 million in its second fiscal quarter a year ago.
Speaking on the earnings call, Apple CEO Tim Cook acknowledged that iPad sales were low, but said that he "continues to believe that the tablet market will surpass the PC market in the next few years". What's more, the firm added that while sales were down, iPads account for four times the web traffic of all Android tablets combined.
Mac sales came in at 4.1 million for the second quarter, down from the 4.6 million in the prior quarter. However, this time last year, Apple reported Mac sales of "less than four million" as it began to take a hit from the declining PC market.
Despite slowing iPad sales, Apple's revenues were above both analysts' and its own expectations and quashed talk that it would see a 'flat' quarter. The firm posted $45.6bn in second quarter revenues, up from $43.6bn in the same quarter last year and above Apple's own predictions of $42 to $44bn. These numbers saw Apple post a $10.2bn profit for its second fiscal quarter, up from $9.5bn in same quarter last year.
For the next quarter, Apple said it is expecting revenues of between $36 and $38bn, suggesting that we won't see any new products from the firm within the next three months.
Alongside its earnings report, Apple also said that it will increase its stock buyback plan to $90bn and said that its board of directors has approved a seven for one stock split.
Apple's outgoing CTO Peter Oppenheimer said, "We generated $13.5 billion in cash flow from operations and returned almost $21bn in cash to shareholders through dividends and share repurchases during the March quarter." µ
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