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Apple - Second quarter results

George Salmon | 4 May 2017 | A A A
Apple - Second quarter results

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Apple's second quarter revenue of $52.9bn and earnings per share of $2.10 compares to revenue of $50.6bn and earnings per share of $1.90 in Q2 2016. Gross margin was 38.9%.

All geographies apart from Greater China (down 14%) delivered sales growth year-on-year. In the Americas, which accounts for 40% of group sales, growth was 11%.

iPhone sales were ahead slightly, at $33.2bn, with Services again growing strongly, up 18% to $7bn. Mac sales also enjoyed a good quarter, increasing 14% to $5.8bn.

Tim Cook, Apple's CEO said "We are proud to report a strong March quarter, with revenue growth accelerating from the December quarter and continued robust demand for iPhone 7 Plus."

Looking ahead, to Q3, Apple expects revenue of between $43.5bn and $45.5bn, with a gross margin between 37.5% and 38.5%.

Unless otherwise stated, all estimated figures, including prospective dividend yields, are taken from a consensus of analyst forecasts compiled by Thomson Reuters. These estimates should not be taken as a reliable indicator of future performance.

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