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iPhone is king as Apple earnings top expectations

Apple Earnings

Apple just released its earnings report for the company’s June quarter and, per usual, Apple surpassed analyst expectations, albeit slightly. For the quarter gone by, Apple posted a net profit of $10.7 billion on revenue of $49.6 billion. Earnings per share, meanwhile, checked in at $1.85.

In the build-up to Apple’s earnings report, analysts were anticipating revenue of $49.5 billion and EPS of $1.81.

By way of contrast, Apple during the same quarter a year-ago posted profits of $7.7 billion on the back of $37.4 billion in revenue. Meanwhile, Apple’s EPS a year ago checked in at $1.28.

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“We had an amazing quarter, with iPhone revenue up 59 percent over last year, strong sales of Mac, all-time record revenue from services, driven by the App Store, and a great start for Apple Watch,” Tim Cook said in an Apple press release.

Per usual, leading Apple’s incredible earnings report were stellar iPhone sales which checked in at 47.5 million units, representing a 35% increase year over year. All the more impressive is that revenue from iPhone sales jumped nearly 60% year over year.

iPad sales, meanwhile, continue to trend downward with sales of 10.9 million units compared to 13.2 million units during the same quarter a year-ago. As for the Mac, sales increased slightly year over year from 4.4 million units to 4.7 million units. Percentage wise, iPad sales fell by 18% as Mac sales increased by 9%.


A life long Mac user and Apple enthusiast, Yoni Heisler has been writing about Apple and the tech industry at large for over 6 years. His writing has appeared in Edible Apple, Network World, MacLife, Macworld UK, and most recently, TUAW. When not writing about and analyzing the latest happenings with Apple, Yoni enjoys catching Improv shows in Chicago, playing soccer, and cultivating new TV show addictions, the most recent examples being The Walking Dead and Broad City.

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