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Apple’s Robust Services Business Lifts Q2 Earnings – $AAPL $DIA

By John F. Heerdink, Jr.

Reportedly, Apple (AAPL) beat second-quarter estimates reporting $1.52 a share on sales of $97.28 billion in the quarter ended March 26. Analysts expected the iPhone giant to earn $1.42 a share on sales of $94 billion. On a year-over-year basis, Apple sales and earnings both increased 9%. 

“We are very pleased with our record business results for the March quarter, as we set an all-time revenue record for services,” stated Chief Financial Officer Luca Maestri.

Here’s how the other segments performed:

  • Apple’s iPhone sales increased 5% to $50.57 billion. Smartphones contributed 52% of the company’s total sales in the period.
  • Apple’s services revenue which includes the App Store, AppleCare, iCloud, Apple Pay, Apple Music, Apple TV+, Apple Arcade, and other offerings climbed 17% to $19.82 billion in the fiscal second quarter. 
  • Apple’s Mac computer sales soared nearly 15% to $10.44 billion.
  •  iPad tablet sales dropped 2% to $7.65 billion.
  • Apple’s Wearables, Home, and Accessories unit reported a 12% sales gain to $8.81 billion in the quarter.
  • No specific guidance for the current quarter was released.
  • Apple raised its quarterly dividend by 5% to 23 cents a share and also announced an increase in its share repurchase program of $90 billion.

Dow 30 component Apple (AAPL) has revolutionized personal technology with the introduction of the Macintosh in 1984. Today Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch, and Apple TV. Apple’s four software platforms — iOS, macOS, watchOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, and iCloud. Apple’s more than 100,000 employees are dedicated to making the best products on earth, and to “leaving the world better than they found it. To learn more about Apple (AAPL) and track its ongoing progress at Vista Partners Apple (AAPL), Coverage Page.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: Apple Easily Beats March-Quarter Goals On Record Services Sales in Investor's Business Daily)


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