Apple released its financial results for its fiscal 2015 second quarter ended March 28. Thanks to strong performance by its iPhone, Mac and App Store businesses, the company posted 27% revenue growth and 40% EPS growth, setting records for the second quarter.
The company managed to exceed Wall Street expectations.
Quarterly revenue was $58 billion and quarterly net profit was $13.6 billion compared to revenue of $45.6 billion and net profit of $10.2 billion for the same quarter last year.
Gross margin was 40.8% compared to 39.3% last year, and international sales accounted for 69% of the quarter's revenue.
Apple credits record second-quarter sales of iPhone and Mac as well as an all-time record performance from the App Store with driving the company's impressive growth.
CEO Tim Cook said, “We are thrilled by the continued strength of iPhone, Mac and the App Store, which drove our best March quarter results ever. 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.”
Note that he didn't include the iPad in there as sales of those were reportedly worse than expected.
“The tremendous customer demand for our products and services in the March quarter drove revenue growth of 27 percent and EPS growth of 40 percent,” said CFO Luca Maestri. “Cash flow from operations was also outstanding at $19.1 billion.”
For its fiscal 2015 Q3, Apple is projecting revenue between $46 billion and $48 billion and gross margin between 38.5% and 39.5%.
Image via Apple