Even though Apple's cash on hand fell to $267.2 billion in the March 2018 quarter, the lowest total since June, it’s still nearly triple of RIL’s market capitalisation.
Even though Apple’s cash on hand fell to $267.2 billion in the March 2018 quarter, it’s still nearly triple of RIL’s market capitalisation. The market capitalisation of BSE listed RIL stands at $91.36 billion. Apple’s market capitalisation in December quarter was recorded at $285.1 billion. The company in its second quarter results on 1 May also announced a plan to spend $100 billion more on stock buybacks. Despite selling fewer iPhones in the March 2018 quarter, the most valuable company in the United States beat market expectations and posted quarterly revenue of $61.1 billion, an increase of 16 percent from the year-ago quarter.
Apple’s capital return program may have pleased investors but it left slightly less money for those new initiatives (even though Apple’s cash pile is still giant.) The company’s shares rose nearly 5 percent after market hours as investors digested the company’s better-than-expected outlook for the current quarter, and a hefty capital return program. The Apple Inc. shares ended the day at $169.10 up by 2.32% at NASDAQ.
The most valuable company of the US recorded $61.1 billion, an increase of 16 percent from the year-ago quarter. The global sales accounted for 65 percent of the quarter’s revenue.
“We’re thrilled to report our best March quarter ever, with strong revenue growth in iPhone, Services and Wearables,” said Tim Cook, Apple’s CEO. “Customers chose iPhone X more than any other iPhone each week in the March quarter, just as they did following its launch in the December quarter. We also grew revenue in all of our geographic segments, with over 20% growth in Greater China and Japan,” he said.
“Our business performed extremely well during the March quarter, as we grew earnings per share by 30 percent and generated over $15 billion in operating cash flow,” said Luca Maestri, Apple’s CFO.