Apple reported impressive quarterly earnings with $95.4 billion revenue, surpassing estimates and marking a 5% year-over-year increase. The earnings per share were $1.65, outpacing predictions. A standout performance in Services, which reached $26.65 billion, signals strong growth, although upcoming changes in app monetization rules may affect future revenue. Hardware sales remained strong with iPhones generating $46.84 billion. Regional performance saw growth in the Americas and Asia-Pacific, contrasting with stagnation in Europe and China. Additionally, Apple announced a $100 billion stock buyback and increased dividends by 4% to $0.26 per share.
"Today Apple is reporting strong quarterly results, including double-digit growth in Services," said CEO Tim Cook, as the company beat analysts' expectations for the three months ending in March.
The company raked in $95.4 billion in revenue, beating the $94.6 billion estimate, which is a 5% increase year-on-year.
Our March quarter business performance drove EPS growth of 8 percent and $24 billion in operating cash flow, allowing us to return $29 billion to shareholders," said Apple CFO Kevan Parekh.
Services reached an all-time high of $26.65 billion for the quarter, which might not be broken in a while as Apple has been ordered to change its rules about app monetization.
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