Apple (AAPL) has reported 4.88 percent rise in profit for the quarter ended Apr. 01, 2017. The company has earned $11,029 million, or $2.10 a share in the quarter, compared with $10,516 million, or $1.90 a share for the same period last year. Revenue during the quarter grew 4.63 percent to $52,896 million from $50,557 million in the previous year period. Gross margin for the quarter contracted 48 basis points over the previous year period to 38.93 percent. Total expenses were 73.35 percent of quarterly revenues, up from 72.33 percent for the same period last year. That has resulted in a contraction of 102 basis points in operating margin to 26.65 percent.
Operating income for the quarter was $14,097 million, compared with $13,987 million in the previous year period.
"We are proud to report a strong March quarter, with revenue growth accelerating from the December quarter and continued robust demand for iPhone 7 Plus," said Tim Cook, Apples chief executive officer. "Weve seen great customer response to both models of the new iPhone 7 (PRODUCT)RED Special Edition and were thrilled with the strong momentum of our Services business, with our highest revenue ever for a 13-week quarter. Looking ahead, we are excited to welcome attendees from around the world to our annual Worldwide Developers Conference next month in San Jose."
For the third-quarter, Apple expects revenue to be in the range of $43,500 million to $45,500 million.
Operating cash flow improves marginallyApple has generated cash of $39,579 million from operating activities during the first half, up 1.32 percent or $515 million, when compared with the last year period. The company has spent $33,324 million cash to meet investing activities during the first six months as against cash outgo of $34,110 million in the last year period.
The company has spent $11,582 million cash to carry out financing activities during the first six months as against cash outgo of $4,560 million in the last year period.
Cash and cash equivalents stood at $15,157 million as on Apr. 01, 2017, down 29.55 percent or $6,357 million from $21,514 million on Mar. 26, 2016.
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