Apple (NASDAQ: AAPL) reported fiscal second-quarter results that slightly exceeded Wall Street expectations, with stronger-than-anticipated iPhone sales and signs of improving performance in China. However, a miss in the high-margin services segment weighed on investor sentiment, sending shares down about 3% in pre-market trading.
EPS came in at $1.65 on revenue of $95.36 billion, beating Wall Street forecasts of $1.63 and $94.22 billion, respectively.
iPhone revenue rose 1% year-over-year to $46.84 billion, above estimates of $45.84 billion, bolstered by a stabilization in Greater China, where sales declined just 2%—a notable improvement from the 11% drop reported in the same quarter a year earlier.
Apple’s services division, which includes platforms such as the App Store and Apple Pay, grew to $26.65 billion from $23.87 billion a year ago. However, the figure narrowly missed the $26.7 billion consensus estimate, highlighting some softness in what has become a key driver of the company’s profitability.
In the wearables and accessories segment, revenue reached $7.52 billion, trailing expectations of $7.85 billion. iPad sales reached $6.40 billion, ahead of the $6.07 billion forecast, while Mac sales slightly exceeded projections at $7.95 billion versus $7.92 billion.
Apple also announced a $100 billion stock buyback program and raised its quarterly dividend by 4% to $0.26 per share. While substantial, the repurchase plan came in $10 billion below the record buyback announced last quarter.
As of the latest update, Apple (NASDAQ: AAPL) stock is down 2.66%, trading at $207.65.
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David Kirakosyan is a seasoned financial journalist with nearly a decade of hands-on experience in covering the U.S. stock markets. Since 2016, he has written thousands of equity news articles, detailed market analyses, and investment insights for trusted platforms like Benzinga, Investing.com, and StreetInsider. David holds a Master of Science in Finance and is a Level 2 CFA® candidate, reflecting his deep commitment to financial expertise and ethical standards. His reporting combines real-world market experience with a strong academic foundation, helping readers make informed decisions backed by reliable information. Read Full Bio
