Overview
- Apple reported revenue of $109.4 billion and net income of $29.8 billion, with earnings per share of $2.02 that topped analysts’ expectations.
- The iPhone generated $54.3 billion in revenue, a 22 percent increase that the company credits to strong demand for the latest model generation.
- Services revenue grew 12 percent to $30.7 billion, giving Apple a steadier recurring-income stream beyond device sales.
- Apple said a one-time government refund of previously levied tariffs added about $0.11 to EPS, and the company’s market value recently touched roughly $5 trillion before settling near $4.9 trillion.
- Leadership will shift to longtime hardware chief John Ternus in September, and investors are watching for new iPhone models this fall that analysts widely expect to include a foldable device.