Apple Beats Q2 Earnings Expectations... iPad Sales Up 24%

Sales of $85.78 billion, EPS $1.4
Rises in After-Hours Trading

Apple posted better-than-expected results for the second quarter of this year.

[Image source=Yonhap News]

On the 1st (local time), Apple announced that it recorded revenue of $85.78 billion and earnings per share (EPS) of $1.40 for the second quarter (third quarter of the fiscal year).

This performance exceeded market expectations. Previously, market research firm LSEG had forecasted Apple to record revenue of $84.53 billion and an EPS of $1.35.

Looking at the revenue breakdown, iPhone sales reached $39.3 billion, accounting for 46% of the company's total revenue. The iPad segment posted $7.16 billion in sales, showing the highest year-over-year growth rate of 24%. Mac sales were recorded at $7.01 billion. Service revenue amounted to $24.21 billion.

After the market closed, following the better-than-expected earnings announcement, Apple’s shares were up 0.16% in after-hours trading as of 4:47 PM Eastern Time.