Apple reported its second quarter earnings on Thursday, topping analysts’ estimates on the top and bottom lines on strong iPhone sales.
Apple stock rose roughly 1% on the news.
For the quarter, Apple saw earnings per share (EPS) of $2.01 on revenue of $111.2 billion. Analysts were anticipating EPS of $1.96 and revenue of $109.66 billion, according to Bloomberg analyst consensus estimates.
That’s up from the EPS of $1.65 and $95.35 billion the company saw in the same quarter last year.
Apple’s iPhone revenue came in at $56.99 billion, just ahead of Wall Street’s projections. This marks the second consecutive quarter of more than 20% revenue growth in the segment.
Apple CEO Tim Cook cited “extraordinary” demand for the iPhone 17 lineup for the earnings beat.
The company’s second-largest business, Services, generated revenue of $30.97 billion versus an expected $30.37 billion. Apple saw Services revenue of $26.64 billion in Q2 last year.
Mac revenue hit $8.39 billion. Apple’s Mac mini has been a breakout star of the AI boom as of late, thanks to developers buying up the tiny desktop to power instances of the AI agent OpenClaw. Apple also debuted its $599 MacBook Neo in early March.
Yahoo Finance
