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In Apple’s second quarter earnings call today, the company announced its fiscal results for the quarter ending March 30, 2013. Revenue, again hit a record high, even in the midst of the company’s biggest stock drop since 2011.
The company sold 37.4 million iPhone, 19.5 million iPads, and the iPod line of MP3 players has captured 70 percent of the market share. While these numbers are all at least seven percent higher than the same time last year, they are less than last quarters numbers.
Apple’s CEO, Tim Cook, noted that even though the company met its sales predictions for the March quarter, it did not meet everyone’s expectations. He also acknowledged that the company is experiencing a slow down in manufacturing. However, he pointed out that Apple remains strong in innovation.
Apple’s CFO, Peter Oppenheimer, also announced that the company will be expanding its capital return program to the tune of $100 billion. The dividends and cash repurchasing program will return $30 billion back to investors each year over the next three years.
As usual, it is the question and answer session of the quarterly earnings calls that are the most interesting when it comes to what we have to look forward to from Apple. This time, Cook alluded to a big fall launch, plus mentioned that the company has some great services coming out.
When asked about how competition in the market has changed from last year to this, Cook said that it really hasn’t changed much at all. The players have just changed. He then went on to talk about the future of the company.
“We feel really, really confident about our product pipeline in both hardware, software, and also services.” He added strong emphasis to that last part.
When asked for clarification on fall announcements, Cook didn’t want to go into details, but he did say that Apple has some great stuff coming out this fall and across all of 2014.
Even though these past few months seem pretty dim for Apple, the future looks bright with so many tantalizing “future products” in the pipeline. Maybe we really will see that streaming music service we’ve heard so many rumors about. Or, maybe Cook was referring to subscription-based streaming media services for a new television set. We will know more this fall.
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