Apple Q2 2015 Results: $58 Billion Revenue, 61.2 Million iPhones, 12.6 Million iPads Sold

Apple has published their Q2 2015 financial results for the quarter that ended in March 2015. The company posted revenue of $58 billion. The company sold 12.6 million iPads, 61.2 million iPhones, and 4.6 million Macs, earning a quarterly net profit of $13.6 billion.

“We are thrilled by the continued strength of iPhone, Mac and the App Store, which drove our best March quarter results ever,” said Tim Cook, Apple’s CEO. “We’re seeing a higher rate of people switching to iPhone than we’ve experienced in previous cycles, and we’re off to an exciting start to the June quarter with the launch of Apple Watch.”

Estimates and the Year Ago Quarter (Q2 2014)

Apple’s guidance for Q2 2015 fell between $52 billion and $55 billion of revenue.

Fortune, polling a number analysts, predicted Apple would sell 58 million iPhones, 13.9 million iPads, and 4.7 million Macs on average. Analysts predicted earnings of $2.21 per share and $56.9 billion in revenue (year-over-year growth of 33% for earnings and 24% for revenue).

Comparatively to this quarter’s results, Apple earned $45.6 billion in revenue in the year ago quarter (Q2 2014), selling 43.7 million iPhones, 16.4 million iPads, and 4.1 million Macs. Apple’s net profit was $9.5 billion.

Graphical Visualization

Below, we’ve compiled a graphical visualization of Apple’s Q2 2015.

Notes from the Call

“Today we’re reporting our strongest March quarter ever” – Tim Cook

“The App Store had its best quarter ever” – Tim Cook

“We’re seeing great momentum with Apple Pay” – Tim Cook

Apple has acquired 26 companies in the past 4 quarters.

Best Buy is going to offer Apple Pay support in all of their stores later this year.

Over 1000 apps have been released with HealthKit integration.

“The response to Apple Watch has been overwhelming” – Tim Cook

More than 3500 apps are already available for Apple Watch.

iPhone sales more than doubled in Korea, Singapore, and Vietnam.

Apple set a new quarter record for iPad sales in Japan, and an all-time record in China.

The App Store generated 70% more revenue than Google’s Play Store in the March quarter according to App Annie.

There will be 40 retail stores in China by middle of next year.

“We continue to see a higher rate of switchers [from Android] than we’ve seen in previous cycles” – Tim Cook

Revenue from emerging markets was up 58% in the quarter, driven primarily by iPhone.

Apple Watch demand right now is greater than supply.

Apple anticipates being able to sell Apple Watch in more countries by late June.

Initial Apple Watch margins will be lower than the company average.

The Mac also had an “unbelievable quarter in China”, according to Tim Cook.

Developers from China are coming into the Apple ecosystem in significant numbers.

Apple has paid out $5 billion to app developers in Greater China, half of which in the last 12 months.

Apple is seeing iPad cannibalization from both the iPhone and the Mac, and they’re okay with it. “It will stabilize at some point”.

Apple Q2 2015 in Tweets

Cash picture: pic.twitter.com/7aK4kqvH2b

— Horace Dediu (@asymco) April 27, 2015

20% of iPhone base has upgraded to iPhone 6 and 6 Plus.

— Neil Cybart (@neilcybart) April 27, 2015

Apple bought back $7B of shares this past quarter. Pace has slowed a bit.

— Neil Cybart (@neilcybart) April 27, 2015

Apple had a better March quarter this year than it had a holiday quarter in 2013. March is the new Christmas.

— Matthew Panzarino (@panzer) April 27, 2015

iPhone ASP is $659

— Horace Dediu (@asymco) April 27, 2015

China > Europe. $AAPL pic.twitter.com/CGFCtQH5mU

— Pierre Valade (@pierrevalade) April 27, 2015

Apple: Greater China revenue grew more than 71 % YOY. https://t.co/Yo2dfbRksI pic.twitter.com/xWNI4XoLth

— Bare Figures (@barefigures) April 27, 2015

Tim: Two data centers will run on 100% renewable energy from day one. Today 100% of Apple US ops, 87% of global powered by renewable energy.

— Six Colors liveblog (@sixcolorsevent) April 27, 2015

Tim: Building 40mw solar farm in Szechuan province. Also announced partnership with Conservation Fund to protect 3600 acres of forest.

— Six Colors liveblog (@sixcolorsevent) April 27, 2015

iPhone unit shipments up 80% in Canada. That’s a little interesting.

— Neil Cybart (@neilcybart) April 27, 2015

iPhone channel inventory up about 1M units, Maestri implies they’re at around 5 weeks worth of inventory. Huge sales to balance that.

— Matthew Panzarino (@panzer) April 27, 2015

The iPad, bigger than most other businesses in the world, a disappointment because it can’t compare to the best business in the world.

— M.G. Siegler (@mgsiegler) April 27, 2015

iPad down again. 12.6M units this Q, down from 16.4M units a year ago.

— John Paczkowski (@JohnPaczkowski) April 27, 2015

Incredible. Apple’s cash pile now up to $194bn. pic.twitter.com/64J9MzKvUX

— John McDuling (@jmcduling) April 27, 2015

China is Apple’s new superpower: sales growth of 71% overall, overtaking Europe for the first time, with iPhone units up 72% there. $AAPL

— Tim Bradshaw (@tim) April 27, 2015

Wow. Apple Q2 rev from greater china: $16.8b

— John Paczkowski (@JohnPaczkowski) April 27, 2015

Apple CEO Tim Cook to CNBC: “Very confident” in iPad sales, really happy with Apple Watch, more than 3500 watch apps now available.

— CNBC Now (@CNBCnow) April 27, 2015

CNBC: $2.33 EPS. 61.2M iPhone units (vs. 57M street estimate). iPad 12.6M units (vs. Street 13.1), Macs 4.6M units beating street.

— MacJournals.com (@macjournals) April 27, 2015