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Apple Reports Big Q2 Earnings Beat, Driven By Record Services Revenue

Tanzeel Akhtar

Apple (NASDAQ: AAPL) reported quarterly earnings of $2.55 per share on Thursday, which beat the analyst consensus estimate of $2.26 by 12.83%. This is a 3.66% increase over earnings of $2.46 per share from the same period last year.

The company reported quarterly sales of $58.3 billion, which beat the analyst consensus estimate of $54.540 billion by 6.89%. This is a 0.49% increase over sales of $58.015 billion the same period last year.

"Despite COVID-19's unprecedented global impact, we're proud to report that Apple grew for the quarter, driven by an all-time record in services and a quarterly record for Wearables," said CEO Tim Cook. Services revenue came in at $13.348 billion.

Here's how other Apple products performed:

  • iPhone Sales $28.962 billion
  • Mac Sales $5.351billion
  • iPad $4.368 billion
  • Wearables, Home, Accessories $6.284 billion

Apple's board of directors declared a cash dividend of 82 cents per share, an increase of 6%. The board also authorized an increase of $50 billion to the existing share repurchase program.

View more earnings on AAPL

Apple shares closed Thursday’s session at $293.80. The stock has a 52-week range between $327.85 and $170.27.

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