With Apple’s stock price constantly declining, much eyes were focused on Apple’s Q2 2013 earnings call today. The Cupertino based giant just released its fiscal Q2 2013 earnings. Apple made $43.6B in revenue (was $39.2 last year), $9.5B in profit which brings to $10.09 per share.
In Q2 2012, Apple’s EPS was at $12.30 and with the latest release today and with the current EPS at $10.09, this makes it the fist year over year decline since 2003. Apple also has a gigantic $145 billion in cash today, and it wants to do something with it. The company today announced that it will be buying back Apple shares in order to raise the stock value. The buy back option will allow Apple to spend some of its cash and bring in the some Apple shares to increase stakeholder value and build the Apple stock back up.
“We are pleased to report record March quarter revenue thanks to continued strong performance of iPhone and iPad,” Apple CEO Tim Cook noted in the release. “Our teams are hard at work on some amazing new hardware, software and services, and we are very excited about the products in our pipeline.”
As far as new products are concerned, Apple hinted that they would be targeting the fall of this year for new product launches.
You can listen to the event here.