Apple posts $45.6 billion in revenue, $10.2 billion in profit and announces stock split

Shawn Knight

Posts: 15,240   +192
Staff member

apple earnings stock split quarterly financial report

Apple on Wednesday announced financial results for its fiscal 2014 second quarter. The Cupertino-based company posted revenue of $45.6 billion with a profit of $10.2 billion, or $11.62 per share. That topped analyst expectations of $10.18 per share on $43.53 billion in revenue.

In the year ago period, Apple reported $43.6 billion in revenue with just $9.5 billion in profit.

The successful quarter was once again led by strong iPhone sales. Wall Street anticipated Apple selling 37.7 million handsets but the actual figure came out to be much higher at 43.7 million units. Year-over-year, that’s an increase of 17 percent.

The one glaring issue on an otherwise flawless earnings report was iPad sales which were down 16 percent. Analysts expected Apple to sell around 19.2 million units but they fell short with just 16.35 million tablets sold.

Apple CEO Tim Cook said the company reduced channel inventory this year compared to an increase last year. What’s more, they ended the first quarter with a backlog of iPad minis which just shipped in this last quarter.

In addition to earnings, Apple announced a seven-for-one stock split that’ll start on June 2, 2014, the first time the company has split its stock since 2005. That means shareholders will get an additional six shares for every one they now own. The company also announced they will be upping their share buyback program to $90 billion.

Permalink to story.

 
Capitalism at its finest, this is sickening how much concentrated wealth can exist in one spot.
 
Capitalism at its finest, this is sickening how much concentrated wealth can exist in one spot.

I know exactly what you mean. When they announced this yesterday it got me bumped out of a short on the Dow. Rich bastards.
 
When there are so many living in abject poverty and dying of starvation world wide through no fault of their own... it makes me sick.
 
When there are so many living in abject poverty and dying of starvation world wide through no fault of their own... it makes me sick.

IMO the wealth inequality angle fails to see the forest for the trees. The "sickening" aspect of poverty and starvation is not that some people and entities have significantly more wealth at their disposal than others. It's the corruption (in third-world countries) and toxic cultures (in first-world countries) that keeps people locked in these conditions that's disturbing.
 
Capitalism at its finest, this is sickening how much concentrated wealth can exist in one spot.

Yeah, right... and what do they spend it on? A huge spaceship office. It'd be better if they didn't have that money so we didn't create a few hundred jobs to build that thing. And all that money that will go to the steel workers who are making the materials for that building... we could save all that. And all the glass and all the furniture and the rest of stuff that makes up a building. It would be better if Apple didn't have any extra money.

And what about Google! Those weirdos are spending their extra millions on solar panels for homes! It'd be much better to just burn something for energy, don't you think? Darn that evil capitalism.

Ok, seriously... stop complaining and go invest in the stock market like every other person with a plan for financial stability. Then when a company does well you can log onto your account and see that you're now like $100 richer. Or you can complain. up to you.
 
Capitalism at its finest, this is sickening how much concentrated wealth can exist in one spot.

Yeah, right... and what do they spend it on? A huge spaceship office. It'd be better if they didn't have that money so we didn't create a few hundred jobs to build that thing. And all that money that will go to the steel workers who are making the materials for that building... we could save all that. And all the glass and all the furniture and the rest of stuff that makes up a building. It would be better if Apple didn't have any extra money.

And what about Google! Those weirdos are spending their extra millions on solar panels for homes! It'd be much better to just burn something for energy, don't you think? Darn that evil capitalism.

Ok, seriously... stop complaining and go invest in the stock market like every other person with a plan for financial stability. Then when a company does well you can log onto your account and see that you're now like $100 richer. Or you can complain. up to you.

The only problem with your comment is that it fails to hold water against the pop culture concept of magic money. That is to say, you're stating that the money they spend actually goes somewhere other than their own accounts...That someone other than Apple's executive team is getting paid. You can't possibly expect any reasonable person to believe that? Crazy man!
 

...and all those manufactured goods come from....yep! you guessed it..China!!
 
Back