The analysts have been predicting doom for Apple, and the stock market has punished Apple's stock price. Those analysts had better take another look at Apple because the iPhone-maker is still making a lot of money.
Apple just reported selling 37.4 million iPhones, 19.5 million iPads, and "just under 4 million" Macs in Q2. That equates to $9.5 billion in profit off of $43.6 billion in revenue.
Apple's revenue grew 11% over the same quarter last year, but net profits shrank by 18%. Apple's stock was trading 7% higher in after hours trading.
CEO Tim Cook also announced the company would return $100 billion dollars to shareholders over the next few years via stock repurchasing and increased dividends.
Don't bet against Apple!
Apple just reported selling 37.4 million iPhones, 19.5 million iPads, and "just under 4 million" Macs in Q2. That equates to $9.5 billion in profit off of $43.6 billion in revenue.
“We are pleased to report record March quarter revenue thanks to continued strong performance of iPhone and iPad,” said Tim Cook, Apple’s CEO. “Our teams are hard at work on some amazing new hardware, software and services, and we are very excited about the products in our pipeline.”
Apple's revenue grew 11% over the same quarter last year, but net profits shrank by 18%. Apple's stock was trading 7% higher in after hours trading.
CEO Tim Cook also announced the company would return $100 billion dollars to shareholders over the next few years via stock repurchasing and increased dividends.
Don't bet against Apple!