Apple Revenues and Profits Up, but iPad Sales Fall 19.6 Per Cent

iPad sales fell by almost 20 per cent year-on-year in Q2, 2014

Apple has announced quarterly revenues of $45.6bn and quarterly net profits of $10.2bn for its fiscal 2014 second quarter ended 29 March, 2014.

The results show modest year-on-year growth compared to the figures of $43.6bn (revenues) and $9.5bn (net profit) in the year-ago quarter. Sales of iPhones were up year-on-year (43.7m compared to 37.4m). Sales of iPads, however, fell by 19.6 per cent, from 19.5m in the year-ago quarter to 16.3m in this quarter.

Apple also announced that it planned to buy an additional $30bn of its stock back from shareholders and to increase its quarterly dividend by 8 per cent. The company’s share price rose by 7 per cent on the news in after-hours trading.

Apple’s guidance for its fiscal 2014 third quarter is for revenues of $36 – $38bn.