Apple's Cook talks quarterly earnings, new products
Apple’s fiscal second quarter earnings announced Tuesday proved to be a mixed bag for the company—record sales for the March quarter, offset by a drop in income. But Apple CEO Tim Cook is optimistic about the company’s future, as he made clear during a conference call with analysts.
Here’s an edited transcript of what Cook had to say on Tuesday about Apple’s most recent quarter.
We’re now halfway through our fiscal 2013 and we’ve accomplished a tremendous amount. We’ve introduced and ramped production of an unprecedented number of new products, and we’ve set many new sales records. Our revenue for the first half was over $98 billion, and our net income was over $22 billion. During that time, we sold 85 million iPhones, and 42 million iPads. These are very, very large numbers, unimaginable even to us just a few years ago.
Despite producing results that met or beat our guidance, as we have done consistently, we know they didn’t meet everybody’s expectations. And though we’ve achieved incredible scale and financial success, we acknowledge that our growth rate has slowed and our margins have decreased from the exceptionally high level we experienced in 2012.
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