Apple has just announced second-quarter earnings after the bell today that blew past analyst estimates and sent the stock higher (UPDATE: It’s now up 7% and topping $600 a share). It reported revenue of $39.2 billion, compared with the prediction of $36.8 billion and $24.67 billion a year ago. That’s good for an earnings-per-share figure of $12.30, up from $6.40 year-over-year and more than $2 above consensus estimates. In all, Apple’s net profit grew 94% compared with a year ago. The company’s sales remain strong, with 35.1 million iPhones and 11.8 million iPads shifted during the quarter. It’s a big beat for a company that had seen its stock correcting most of the month; Apple had lost $71 billion in market value since April 9.
Apple Reports Strong 2Q Earnings; Net Profit Grows 94% Year-Over-Year
What's Hot on Deadline
Bill Cosby Found Guilty In Sexual Assault Retrial, Lashes Out In Court After Verdict; Defense Plans Appeal - Update
'Suits' Finale: Series Creator On Patrick J. Adams & Meghan Markle's Exits, New Twist, Season 8 & Spinoff Details