Categories AlphaGraphs, Earnings, Technology

Apple (AAPL) reports strong Q2 sales as iPhone recovery gains steam; results beat

Apple Inc. (NASDAQ: AAPL) reported double-digit sales growth for the March quarter as the sales of iPhone, its lead product, continued to recover from the COVID-induced slump. The numbers also beat estimates, sending the company’s stock higher on Wednesday evening.

Apple Q2 2021 Earnings Infographic

The Cupertino-based gadget giant said its second-quarter net sales jumped 54% from last year to $89.6 billion. Driving the growth, sales of iPhone advanced 66%, regaining ground in the booming smartphone market. Sales also came in above the consensus estimates.

Benefiting from the broad-based top-line growth, net profit climbed to $23.63 billion or $1.40 per share from $11.25 billion or $0.64 per share in the second quarter of 2020, surpassing Wall Street’s expectations.

“This quarter reflects both the enduring ways our products have helped our users meet this moment in their own lives, as well as the optimism consumers seem to feel about better days ahead for all of us. Apple is in a period of sweeping innovation across our product lineup, and we’re keeping focus on how we can help our teams and the communities where we work emerge from this pandemic into a better world,” said Apple’s CEO Tim Cook.


Read management/analysts’ comments on Apple’s Q2 report


After an upbeat start to the year, Apple’s shares entered a volatile phase but the price stayed above the 52-week average. The stock closed Wednesday’s regular session lower but gained after the normal trading hours.

_________________________________________________________________________________________________________________

Stocks you may like:

Apple (AAPL) Stock

Microsoft (MSFT) Stock

Alphabet (GOOGL) Stock

International Business Machines Corp. (IBM) Stock

_________________________________________________________________________________________________________________

Most Popular

What to expect when Signet Jewelers (SIG) reports Q1 earnings

Shares of Signet Jewelers Limited (NYSE: SIG) were over 3% on Monday. The stock has dropped 13% over the past 3 months. The jewelry retailer is set to report its

MDB Infographic: Highlights of MongoDB’s Q1 2024 earnings report

Software company MongoDB, Inc. (NASDAQ: MDB) has announced financial results for the first quarter of 2024, posting an increase in revenues and adjusted profit. The company reported a 29% increase

Campbell Soup to report Q3 results Wednesday. Here’s what to expect

Campbell Soup Company (NYSE: CPB) is coming out of a rough patch after the packaged food company's sales and earnings got affected by the pandemic, due to the widespread movement

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top