Apple Reports ‘Strong’ Q2 Earnings: Revenue Beat, EPS Beat, Installed Base Hits All-Time High Across All Segments, $100 Billion Buyback And More – Apple (NASDAQ:AAPL)
Apple Inc AAPL reported financial results for the second quarter after the market close on Thursday. Here’s a rundown of the iPhone maker’s report.
Q2 Earnings: Apple reported fiscal second-quarter revenue of $95.36 billion, beating analyst estimates of $94.53 billion. The Cupertino-based company reported second-quarter earnings of $1.65 per share, beating analyst estimates of $1.63 per share.
With Thursday’s beat, Apple has now exceeded analyst estimates on the top and bottom lines in nine straight quarters, according to Benzinga Pro.
Total revenue was up 5% year-over-year, and earnings per share climbed 8% year-over-year. Americas sales totaled $40.31 billion in the quarter, Europe sales came in at $24.45 billion, Greater China sales were approximately $16 billion, Japan sales totaled $7.3 billion and the rest of Asia Pacific sales were $7.29 billion.
Products revenue came in at $68.7 billion, up from $66.89 billion year-over-year. Services revenue totaled $26.65 billion, up from $23.87 billion year-over-year, representing a new all-time high. Here’s a breakdown of product sales by category:
- iPhone: $46.84 billion, versus $45.96 billion last year
- Mac: $7.95 billion, versus $7.45 billion last year
- iPad: $6.4 billion, versus $5.56 billion last year
- Wearables, Home and Accessories: $7.52 billion, versus $7.91 billion last year
Apple noted that its active installed base of devices once again reached new all-time highs across all products and geographic segments. The company attributed the growth to high levels of customer loyalty and satisfaction.
“Today Apple is reporting strong quarterly results, including double-digit growth in Services. We were happy to welcome iPhone 16e to our lineup, and to introduce powerful new Macs and iPads that take advantage of the extraordinary capabilities of Apple silicon,” said Tim Cook, CEO of Apple.
Check This Out: Google Aims For Gemini AI Deal With Apple This Year, Says Sundar Pichai Amid DOJ’s Bid To Curb Search Monopoly
Apple’s board declared a quarterly cash dividend of 26 cents per share. The dividend is payable on May 15 to shareholders of record as of May 12. The company also said its board authorized an additional share repurchase program of up to $100 billion.
Apple refrained from providing an outlook in its second-quarter earnings release, but the company typically provides commentary on the conference call on how it generally expects its different product lines to perform in the months ahead.
The second-quarter call is scheduled to start at 5 p.m. ET. A link to the conference call is provided below.
AAPL Price Action: Apple shares were down 2.20% after-hours, trading at $208.42 at the time of publication Thursday, according to Benzinga Pro.
Read Next:
Photo: Tada Images/Shutterstock.
