Apple’s Q2 Earnings

Earlier today Apple held it’s hour long earnings call here are some of their results:

Details on the iPhone

50.76 million units sold with $33.2 billion in revenue with is down 1 percent year-over-year. ASP of $655 which is up 2 percent year-over-year, but misses expectations of $666. Despite the sales drop the revenue from iPhone is up 1 percent year-over-year whilst Channel inventory is down 1.2 million during quarter.

Details on the iPad

8.9 million units sold which is down 12 percent year-over-year, Maestri said the iPad grew in the U.S., but failed to offer specifics. Customer satisfaction is between 95 percent and 100 percent

Details on the Mac

4.1 million units sold which is Down .01 percent year-over-year, and Mac revenue is up 20 percent in China

Details On Services

Apple’s push on services is starting to pay off with $7.041 billion in revenue, this makes it the second quarter in a row over $7 billion and is up 18 percent year-over-year. There are now 165 million subscriptions, up 15 million from last quarter.

Apple Pay transaction volume up 450 percent over last year, and the Apple store doubled Google Play in terms of revenue.

Details On Retail

Visitors to retail and online stores is up 16 percent year-over-year, Retail grew 21 percent in China and Retail store traffic up 27 percent in China.

Details On AirPods + Wearables

This is now the Size of a Fortune 500 company with Apple Watch sales doubled year-over-year, and AirPods still hard to come by.

Details On America business

Apple spent $50 billion in U.S. economy last year and said they are “Proud” to support 2 million jobs across all 50 states.

Guidance for next quarter

Apple estimates Revenue between $43.5 billion and $45.5 billion with a Gross margin between 37.5 percent and 38.5 percent. Operating expenses will be between $6.6 billion and $6.7 billion and Other income/(expense) of $450 million and a total Tax rate of 25.5 percent.

What are your thoughts on these figures? let us know in the comments below.