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Apple Q2 2017 Results Exceed $50 Billion in Revenue But iPhone Sales See Massive Drop Against Previous Quarter – Anticipation of iPhone 8 Relatively High?

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May 2, 2017
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Apple (NASDAQ: AAPL 152.09 1.21%) has just announced its Q2 2017 quarter results with the tech giant once again taking the lead against its other smartphone competitors in terms of both revenue, iPhone sales and other categories. However, in comparison to the record-breaking breaking Q1 2017 quarter, the results are a bit pale, mostly due to lack of iPhone sales, which are the primary bread and butter of the company. However, the anticipation of the radically overhauled iPhone 8 could inject massive growth thanks to its array of exclusive features and massive design change.

Apple (NASDAQ: AAPL 152.09 1.21%) Still Impresses in Q2 2017 Financial Results in Regards to YoY Results – Massive Dip in Performance Could Have a Silver Lining

With $52.9 million in revenue and slightly over $11 billion in profit, Apple has displayed far better financial performance than its competitors, even though the slump compared to the previous quarter is huge. Still, compare it to the year-over-year results and we still see that the tech giant is going strong in revenue generation and iPhone sales, though there is a noticeable drop in iPad and Mac sales quarter-over-quarter.

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The announcement of the new iPhone 7 (PRODUCT)RED Special Edition and $329 iPad was not sufficient to bring in a hefty amount of sales, though newer products in the form of the iPhone 8 and iPad Pro could reverse this.

“We are proud to report a strong March quarter, with revenue growth accelerating from the December quarter and continued robust demand for iPhone 7 Plus. We’ve seen great customer response to both models of the new iPhone 7 (PRODUCT)RED Special Edition and we’re thrilled with the strong momentum of our Services business, with our highest revenue ever for a 13-week quarter. Looking ahead, we are excited to welcome attendees from around the world to our annual Worldwide Developers Conference next month in San Jose.”

Previously reported data stated that lack of design change hurt Apple’s iPhone sales metric, suggesting that a huge makeover in aesthetics in regards to the iPhone 8 could bring back the sales momentum in its favor. Apple has also provided guidance for its Q3 2017 financial results, with revenue slipping even further for that quarter. Hopefully, we’ll get to see a record-breaking quarter from the company once it announces its Q1 2018 results.

Critics could be incessantly chanting the demise of Apple and its iPhone due to the aforementioned results, but we’re still showing a positive outcome thanks to the upgraded models of the iPhone, iPad, and Mac that are expected to get unveiled later in the year.

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Q2 2017 Financial Results

  • $52.9 billion in revenue
  • $11.03 billion in profit
  • EPS of $2.10
  • 50.7 million iPhones sold
  • 8.92 million iPads sold
  • 4.19 million Macs sold

Q1 2017 Financial Results

  • $78.4 billion in revenue
  • $17.89 billion in profit
  • EPS of $3.36
  • 78.3 million iPhones sold
  • 13 million iPads sold
  • 5.3 million Macs sold

Q2 2016 Financial Results

  • $50.6 billion in revenue
  • $10.5 billion in profit
  • EPS of $1.90
  • 51.1 million iPhones sold
  • 10.2 million iPads sold
  • 4 million Macs sold

Apple is providing the following guidance for its fiscal 2017 third quarter:

  • Revenue between $43.5 billion and $45.5 billion
  • Gross margin between 37.5 percent and 38.5 percent
  • Operating expenses between $6.6 billion and $6.7 billion
  • Other income/(expense) of $450 million
  • Tax rate of 25.5 percent

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