One of the most anticipated earnings reports has happened. Apple released its quarterly earnings yesterday after the market close.
The company exceeded analysts’ expectations, marking records. Its revenue increased to $59.7 billion from last year’s $53.81 billion and outperforming the $52.24 billion consensus.
Apple’s net income came in at $11.25 billion, or an EPS of $2.58, up from a previous $10.04 billion, or $2.18/ share. The expected EPS was $2.05.
The quarterly revenue generated from the iPhone segment was $26.42 billion, beating analysts' expectations of $22.2 billion, but failing to outmatch not topping last year's $26.99 billion. 60% of the company's overall revenue came from international sales.
The services segment had a $13.16 billion revenue from $11.45 billion same quarter last year, above the $13.1 billion estimated. Wearables, accessories, and home products brought in $6.45 billion, ahead of the estimates which were looking for $5.98 billion.
Moreover, the company announced the stock split, which will "help support liquidity and attract new investors."
In after-hours trading, Apple shares went up 5.8%. In Q2, the company’s stocks gained 30%, while USA30 added 8%.
Since the beginning of the year, Apple stocks settled up 31%, outperforming TECH100, which added 22.7%.
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Sources: marketwatch.com, investing.com