Apple revenues grow 33%; profits up 39%

Apple's Q2 financial results are out, and as we've come to expect, growth is largely the word of the day. The company posted $49.6 billion in revenue, up 33% from this time last year, and earned $10.7 billion in net profit, up 39% year-over-year. Gross margin was 39.7% compared to 39.4% a year ago.

The company attributed its success to iPhone sales of 47.5 million units and Mac sales of 4.8 million units, versus 35.2 million and 4.5 million a year ago, respectively. iPhone growth continued at a pretty incredible 35% year-over-year.

iPad sales are the one dark spot on the earnings report. The company sold 10.9 million of its tablets, down from 13.3 million this time last year—a 22% decline. As promised, the company didn't break out an Apple Watch sales number, but CFO Luca Maestri says the Watch sold more units in its first nine weeks on sale than the iPad did over a similar period, according to Business Insider

The company expects Q3 revenue between $49 billion and $51 billion, gross margin between 38.5% and 39.5%, and operating expenses between $5.85 billion and $5.95 billion.

(Feature image by Joe Ravi, from Wikimedia Commons)

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