Apple beat Wall Street forecasts on the top and bottom lines for the three months ended in March despite a slight miss on iPhone sales, which were still extremely robust. Services, where Apple TV lives, had its best quarter ever.
It’s the first earnings report since Tim Cook announced he’s stepping down as CEO with John Ternus, currently head of hardware engineering, set to take the reins Sept. 1. Cook will segue to executive chairman.
The tech giant posted quarterly revenue of $111.2 billion, up 17% year over year for its fiscal second quarter. Diluted earnings per share of$2.01 rose 22%.
IPhone sales rose 20% to 56.7 billion, driven by the iPhone 17 introduced last year. Total Products sales hit $82 billion. In March, Apple unveiled the iPhone 17e, an updated iPad Air laptop and a lower-cost laptop, the MacBook Neo, going for $599.
Services revenue jumped to
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