From Nasdaq: 2024-05-03 12:08:00

Apple reported second-quarter fiscal 2024 earnings of $1.53 per share, beating estimates and increasing 0.7% year over year. Despite a 4.3% decrease in net sales to $90.75 billion, shares rose by 7.51% in pre-market trading. iPhone sales dropped 10.5%, offset by services growth. Paid subscriptions doubled in four years, reaching 1 billion.

Product sales fell 9.5% to $66.89 billion, with Mac sales up 3.9%. iPad sales declined 16.7%, while Wearables dropped 9.6%. Gross margin expanded to 46.6%, with operating margin up to 30.7%. Cash & marketable securities were $162.34 billion, with $102.59 billion in term debt. Apple returned $27 billion to shareholders in Q2.



Read more at Nasdaq: Apple (AAPL) Q2 Earnings Beat Estimates, Shares Up on Solid View