Apple® today announced financial results for its fiscal 2014 second quarter ended March 29, 2014. The Company posted quarterly revenue of $45.6 billion and quarterly net profit of $10.2 billion, or $11.62 per diluted share. These results compare to revenue of $43.6 billion and net profit of $9.5 billion, or $10.09 per diluted share, in the year-ago quarter. Gross margin was 39.3 percent compared to 37.5 percent in the year-ago quarter. International sales accounted for 66 percent of the quarter’s revenue.
Apple is providing the following guidance for its fiscal 2014 third quarter:
- revenue between $36 billion and $38 billion
- gross margin between 37 percent and 38 percent
- operating expenses between $4.4 billion and $4.5 billion
- other income/(expense) of $200 million
- tax rate of 26.1 percent
After the Earning call In an interview with The Wall Street Journal, Cook said Apple is hard at work but it will not rush.
“You want to take the time to get it right. Our objective has never been to be first. It’s to be the best. To do things really well, it takes time. You can see a lot of products that have been brought to market where the thinking isn’t really deep and, as a consequence, these things don’t do very well. We don’t do very many things so we spend a lot of time on every detail and that part of Apple isn’t changing. It’s the way we’ve operated for years and it’s the way we still operate. I feel great about what we’ve got coming. Really great and it’s closer than it’s ever been.”
He added: “New things will only make it better.”
Cook also made it clear that new products may extend beyond hardware. What about mobile payments? Apple has many customer credit cards, and fingerprint sensor in itsiPhone 5S. It also has made some recent moves in the area.
“I think it’s a really interesting area. We have almost 800 million iTunes accounts and the majority of those have credit cards behind them. We already have people using Touch ID to buy things across our store, so it’s an area of interest to us. And it’s an area where nobody has figured it out yet. I realize that there are some companies playing in it, but you still have a wallet in your back pocket and I do too which probably means it hasn’t been figured out just yet.”