Apple tops Q2 earnings estimates on strong iPhone, China sales
Yahoo Finance • • general
Key Points:
- Apple reported strong Q2 earnings with EPS of $2.01 and revenue of $111.2 billion, surpassing analyst expectations of $1.96 EPS and $109.66 billion revenue, driven by robust iPhone sales.
- iPhone revenue reached $56.99 billion, marking the second consecutive quarter with over 20% growth, supported by “extraordinary” demand for the iPhone 17 lineup.
- Services revenue rose to $30.97 billion, exceeding forecasts, while Mac revenue hit $8.39 billion, boosted by the popularity of the Mac mini amid the AI boom and the recent launch of the MacBook Neo.
- Greater China revenue improved to $20.49 billion, outperforming analyst estimates of $18.9 billion, despite global challenges like the memory shortage impacting the tech industry.
- This earnings report is the first since Apple announced CEO Tim Cook’s planned September departure, with John Ternus set to succeed him.
