Apple beats quarterly estimates driven by iPhone sales

Apple has reported second-fiscal quarter earnings that beat Wall Street’s expectations for sales and revenue.

The iPhone maker was driven by stronger-than-anticipated iPhones sales.

Apple’s earnings per share came in at $1.52 vs. $1.43 expected while it reaped $94.84 billion in revenue, beating the expected $92.96 billion.

Apple reported $24.16 billion in net income during the quarter versus $25.01 billion last year.

Apple’s iPhone revenue came in at $51.33 billion versus the expected $48.84 billion while its Mac revenue came in at $7.17 billion versus $7.80 billion expected. iPad revenue was $6.67 billion versus $6.69 billion expected.

The highlight of Apple’s report was iPhone sales, which grew from the year-ago quarter even as the broader smartphone industry contracted nearly 15% during the same time.


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