Free Research Report as Apple's Quarterly Earnings Surged 30%; Surpassed Estimates

Stock Monitor: Koss Corp. Post Earnings Reporting

LONDON, UK / ACCESSWIRE / May 25, 2018 / If you want access to our free earnings report on Apple Inc. (NASDAQ: AAPL), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=AAPL. On May 01, 2018, Apple reported financial results for the second quarter of 2018 ending March 31, 2017. The second fiscal quarter was the Company's best March quarter ever, with strong revenue growth in iPhone, Services, and Wearables. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Koss Corporation (NASDAQ: KOSS), which also belongs to the Consumer Goods sector as the Company Apple. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Apple most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

Apple's total revenues reached $61.14 billion for Q2 FY18, reflecting an increase of 15.58% from $52.90 billion in Q2 FY17. The Company's Q2 FY18 revenue surpassed analysts' consensus estimates by $160 million. International sales accounted for 65% of Apple's revenue in the reported quarter.

In the quarter under review, iPhone accounted for 62.21% of the total revenue (or $38.03 billion); Mac accounted for 9.57% of revenue ($5.85 billion); and iPad accounted for 6.73% of the revenue (or $4.11 billion).

Apple's cost of sales jumped 16.75% to $37.72 billion in Q2 FY18 from $32.31 billion in Q2 FY17. The Company's gross margin for the reported quarter was $23.42 billion, 13.75% higher than the $20.59 billion reported in the same period last year.

Apple incurred operating expenses of $7.53 billion in Q2 FY18, an increase of 15.92% from $6.49 billion in Q2 FY17. The Company's research and development (R&D) expenses jumped 21.69% to $3.38 billion on a y-o-y basis, while its selling, general, and administrative (SG&A) expenses advanced 11.62% to $4.15 billion on a y-o-y basis in Q2 FY18. Apple's operating income ascended 12.75% to $15.89 billion in the reported quarter from $14.10 billion in the year ago corresponding quarter.

Apple's net income for the quarter ending March 31, 2018, was $13.82 billion, 25.32% higher than $11.03 billion in the same period last year. The Company's diluted earnings per share (EPS) also increased 30% to $2.73 for the reported quarter from $2.10 in the year earlier same quarter. This exceeded analysts' consensus estimates by $0.05.

Apple's Segment Details

During Q2 FY18, the Americas segment reported net revenues were $24.84 billion, up 17.41% from $21.16 billion in Q2 FY17.

The Europe segment reported revenues of $13.85 billion in Q2 FY18, up 8.74% from $12.73 billion in Q2 FY17.

For Q2 FY18, Greater China segment generated revenues of $13.02 billion, an increment of 21.42% from $10.73 billion in Q2 FY17.

The Japan segment reported revenues of $5.47 billion in Q2 FY18 compared to $4.49 billion in Q2 FY17; reflecting an increase of 21.92%.

The Rest of Asia/Pacific segment generated revenues of $3.96 billion in Q2 FY18, up 4.30% from $3.80 billion in Q2 FY17.

Cash Matters

Apple had cash and cash equivalents of $45.06 billion as on March 31, 2018, compared to $20.29 billion as on September 30, 2017. The Company had a long-term debt of $101.36 billion as on March 31, 2018, up 4.27% from $97.21 billion as on September 30, 2017.

Apple's net cash flow from operating activities was $43.42 billion in Q2 FY18, which is an increase of 9.09% from $39.80 billion for the same period in 2017. The Company spent $7.01 billion on purchase of property, plant, and equipment in Q2 FY18, 11.03% higher than $6.31 billion in Q2 FY17.

Apple spent $6.53 billion on dividends and dividend equivalents in Q2 FY18, an increase of 6.44% from $6.13 billion in Q2 FY17. The Company spent $32.85 billion on repurchases of common stock in the quarter under review compared to $18.01 billion in the previous-year's same quarter. Apple's Board approved a new share repurchase authorization of $100 billion and a 16% increase in the Company's quarterly dividend. Besides, the Company will complete the execution of the previous $210 billion share repurchase authorization during Q3 FY18.

Outlook

For fiscal 2018 third quarter, Apple expects revenue to be in the range of $51.50 billion to $53.50 billion, and gross margin to be in the range of 38% to 38.50%. The Company anticipates operating expenses of $7.70 billion to $7.80 billion and other income/(expense) of $400 million for Q3 FY18.

Apple's Board also declared a cash dividend of $0.73 per share of Apple's common stock, which was paid on May 17, 2018 to shareholders of record as of the close of business on May 14, 2018.

Stock Performance Snapshot

May 24, 2018 - At Thursday's closing bell, Apple's stock marginally fell 0.11%, ending the trading session at $188.15.

Volume traded for the day: 23.13 million shares.

Stock performance in the last month - up 14.97%; previous three-month period - up 7.21%; past twelve-month period - up 22.70%; and year-to-date - up 11.18%

After yesterday's close, Apple's market cap was at $928.16 billion.

Price to Earnings (P/E) ratio was at 17.33.

The stock has a dividend yield of 1.55%.

The stock is part of the Consumer Goods sector, categorized under the Electronic Equipment industry.

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