Just don’t have a crisis

23 April 2013 By Robert Cyran Follow @rob_cyran

The company is slowing down a bit, with margins slipping as rivals’ gadgets catch up. But Apple still has plenty of spring in its step, selling 65 pct more iPads in the March quarter than a year ago. And its absurd financial comfort means it can give much more back to investors.

This content is for Subscribers only

Context News

Apple on April 23 reported revenue of $43.6 billion for the quarter ending March 30, an increase of 11 percent from the same period last year. Net income decreased 18 percent to $9.5 billion.
The company sold 37.4 million iPhones in the quarter, 19.5 million iPads and 4 million iMacs.
Apple also more than doubled to $100 billion the amount of capital it plans to return to shareholders by the end of 2015. As part of this plan, the company increased its quarterly dividend by 15 percent to $3.05 per share and its share buyback authorization from $10 billion to $60 billion.
Apple will borrow in conjunction with the program. The company has $145 billion of cash and investments on its balance sheet, but a majority is overseas. Repatriating it would trigger a tax liability.

Email a friend

Please complete the form below.

Required fields *