Apple beats Q2 estimates, as iPhone sales decline 10%… Earnings Snapshot

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In a quarter marked by challenges, Apple’s latest financial report unveils a surprising resilience, defying expectations and igniting investor enthusiasm. Despite a turbulent market and fierce competition, the tech giant showcases strength in key sectors, signaling enduring potential amidst adversity.

Key points:

  • Apple’s second-quarter results surpassed expectations, with sales declining less than anticipated and profits exceeding estimates.
  • Greater China revenue dipped 8% year over year but still outperformed analyst predictions.
  • iPhone revenue declined to $45.96 billion, yet remained robust compared to expectations.
  • Earnings per share (EPS) reached $1.53 on revenue of $90.8 billion, surpassing Wall Street estimates.
  • The company authorized an additional $110 billion for share repurchases and increased its dividend.
  • Despite challenges from competitors like Huawei and economic slowdowns in China, Apple reported growth in mainland China.
  • Apple’s stock performance, though lagging behind some rivals, showed signs of resilience.
  • Mac revenue and iPad revenue exceeded analyst forecasts, while Wearables revenue fell slightly short.
  • Services revenue hit an all-time high of $23.87 billion, showcasing significant growth compared to the previous year.
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