Apple Reports Second Quarter Results

Apple today announced financial results for its fiscal 2016 second quarter ended 26 March. The company posted quarterly revenue of US$50.6 billion and quarterly net income of US$10.5 billion, or US$1.90 per diluted share. These results compare to revenue of US$58 billion and net income of US$13.6 billion, or US$2.33 per diluted share, in the year-ago quarter. Gross margin was 39.4 per cent compared to 40.8 per cent in the year-ago quarter. International sales accounted for 67 per cent of the quarter’s revenue. “Our team executed extremely well in the face of strong macro‑economic headwinds,” said Tim Cook, Apple’s CEO. “We are very happy with the continued strong growth in revenue from Services, thanks to the incredible strength of the Apple ecosystem and our growing base of over 1 billion active devices.”