Denver, CO – (Stocksntrade) – 05/01/2014 – Apple Inc. (NASDAQ:AAPL) delivered a strong second quarter for fiscal year 2014, and added to the investor euphoria with 7:1 stock split announcement. Let’s take a look at the second quarter results, and the nitty-gritty of the Apple stock split.
Apple Second Quarter FY 2014 Earnings Report
It’s hard to deliver when the bar is set so high, but Apple managed to do it with a stellar earnings report for the second quarter of 2014. Apple reported generating $45.6 billion in quarterly revenue, which resulted in a net profit of $10.2 billion, or $11.62 per diluted share, for the quarter.
This compares quite favorably against the quarterly report for the same quarter last year, when Apple racked up $43.6 billion in revenue, resulting in a net profit of $9.5 billion, or $10.09 per diluted share.
Gross margin for the quarter was 39.3%, which again is better than the 37.5% the company reported in the second quarter for 2013. Another notable aspect mentioned in the earnings report was that 66% of the revenue in the quarter came from international sales outside the U.S.
Apple CEO Tom Cook said that, “We’re very proud of our quarterly results, especially our strong iPhone sales and record revenue from services. We’re eagerly looking forward to introducing more new products and services that only Apple could bring to market.”
The Apple Stock Split
The Apple Board of Directors has approved a 7-for-1 stock split. Each Apple shareholder of record as of the close of business on June 2, 2014 will receive six additional shares for every share held. AAPL will begin trading on a split-adjusted basis starting from June 9, 2014.