Apple Shatters Q2 Expectations with a Record $111B Revenue
Apple reported an exceptional fiscal second-quarter performance on April 30, boasting a revenue of $111.2 billion. This marks a 17% increase year-on-year, comfortably surpassing Wall Street’s predictions of $109.66 billion. The earnings per share also exceeded expectations, coming in at $2.01 against the consensus estimate of $1.95.
The tech behemoth’s Services segment hit a revenue milestone of $30.98 billion. Simultaneously, sales in Greater China saw a significant surge of 28%, reaching $20.5 billion. Apple’s gross margin widened to 49.3%, a rise from the previous quarter’s 48.2%. This increase underlines the profitability of its burgeoning services business.
The earnings call was noteworthy as it marked the debut of incoming CEO, John Ternus. This follows the announcement that long-standing CEO, Tim Cook, will be stepping down on September 1, 2026, to assume the role of Executive Chairman. Cook expressed satisfaction with the ongoing collaboration with Google on AI initiatives, describing it as “going well”. The company also announced a $100 billion share buyback program and issued an optimistic forecast for the current quarter.
Source: CNBC