“I’d rather settle a patent lawsuit, but I don’t want Apple to be the developer for the world, I want people to make their own stuff.”
These are the words expressed in a serious manner by Apple’s CEO Tim Cook after the earnings announcement conference call, and I guess he waited keenly for this moment. Apple Inc. is currently in litigation over patents with great names from the technological domain, namely Google/Motorola, Samsung and HTC.
The Apple products are based on years of hard work and innovation and Tim Cook only asks the other companies to stop taking the Apple inventions and to redeem for the past trespasses. But the Apple’s smartphones and tablets dominate the technological market, such as the Q2 earnings showed, and the other giants from the domain want to keep up, thus a settlement between the companies is almost chimeric.
Apple announced Tuesday, April 24 the financial results for the second fiscal quarter of 2012, which ended March 31, 2012. Q2 resulted in quarterly revenue of $39.2 billion and quarterly net profit of $11.6 billion, or $12.30 per share.
The company sold 35.1 million iPhones, 11.8 million iPads, 4 million Macs and 7.7 million iPods, reaching at $105.9 billion total assets, numbers of which CEO Tim Cook and CFO Peter Oppenheimer are proud:
“We’re thrilled with sales of over 35 million iPhones and almost 12 million iPads in the March quarter,” said Tim Cook, Apple’s CEO. “The new iPad is off to a great start, and across the year you’re going to see a lot more of the kind of innovation that only Apple can deliver.”
“Our record March quarter results drove $14 billion in cash flow from operations,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the third fiscal quarter, we expect revenue of about $34 billion and diluted earnings per share of about $8.68.”
Overall, Apple’s cash pile stands at $110 billion with total assets of $105.9B and total shareholders equity of $102.4B. “Infinite Loop” indeed! The conference call detailed the sources of the revenues: 58% were due to the iPhone sales, which dropped 5.5% over the quarter, 17% for the iPad sales and 13% for the Mac sales. The rest of the profit was fetched by iPod sales, iTunes and iCloud.
With such a mind-blowing cash pile I reckon that Apple may consider developing also a billion counting device.
Source: MacRumors, Apple.com