10 million iPhone in less weigh on Apple Quarterly: first decline since 2003

During the evening yesterday Apple today announced financial results for the second quarter of fiscal 2016, ended March 26, 2016. During the reporting period the Apple recorded a turnover of 50.6 billion dollars and a net profit of 10, $ 5 billion, equivalent to $ 1.90 per diluted share. This is the first decline in comparison with the same quarter of last year, since 2003: in the second quarter of 2015 in fact, the company had revenues of $ 58 billion and a profit of 13.6 billion, equal to 2.33 dollars per diluted share.

Tim Cook, Apple's CEO, shows a brave face: "Our team has worked extremely well in the face of macroeconomic turmoil, we are very pleased with the continued strong growth in revenues from services, thanks to the incredible strength and Apple ecosystem to our base, an increase of over one billion active devices. "

The boulder that weighs on the Apple account is the decline in iPhone sales: in the quarter smartphone from Apple sells 51.2 million units, or 10 million less than the same period of 2015, a decrease of 18 sales % which rose from 40.3 billion dollars to 32.8 billion dollars. Declining sales also iPad and Mac, whereas the only voice that marks a growth is the turnover generated by the "services" that goes to 5.9 billion dollars with an increase of 20% compared to the second trimstre a year ago.

International sales accounted for 67 percent of the quarter's revenue, and also from a geographical point of view there is a "main culprit" for the fall recorded by Apple: the Chinese market does indeed mark a turnover down 26% passing by 16.8 billion a year ago to 12.5 billion in the quarter under review.

During the conference held on the sidelines of the presentation of the results Cook stated that the turnover around iPhone "healthy" remains, indicating a higher pass rate from Android to iPhone in the first half of the fiscal year than any other semester and always emphasizing how iPhone SE, which in the results of this quarter is not included, is enjoying a strong public response: "There's a question that goes far beyond what we thought, and it is why we have the limits we "(in terms of delivery).

The company has authorized an increase of 50 billion dollars for repayment program of capital to shareholders, for a total expenditure total of 250 billion dollars by the liquid end of March 2018. The Council also approved an increase of 10 percent to a quarterly dividend of the Company, and has declared a dividend of $ 0.57 per share, payable May 12, 2016 to shareholders of record at the close of business May 9, 2016.

For the next quarter, Apple plans to raise sales of between 41 and 43 billion dollars, with a gross margin between 37.5% and 38%. In the third quarter of 2015, the company recorded a turnover of 49.6 billion dollars, with a gross margin of 39.7%.