Apple Posts $111.18 B Revenue, EPS $2.01 and Unveils $100 B Buyback
Apple posted $111.18 billion revenue and $2.01 EPS, beating estimates and lifting after-hours shares about 4%. It forecast 14%-17% quarterly growth, unveiled a $100 billion share repurchase, and cited strong services, MacBook Neo traction and China sales despite iPhone supply and memory cost pressures.
1. Q2 Fiscal Results
Apple reported revenue of $111.18 billion for the March quarter, up 17% year-over-year, and earnings per share of $2.01, both surpassing consensus forecasts and driving a roughly 4% jump in after-hours trading.
2. Guidance and Share Buyback
Management projected 14% to 17% revenue growth for the June quarter, well above Wall Street’s forecast, and authorized a new $100 billion share repurchase program to return capital to investors.
3. Segment Performance and Challenges
iPhone revenue reached $56.99 billion but was limited by processor shortages, while Mac sales gained momentum from early demand for the lower-priced MacBook Neo; services revenue again topped estimates and China sales rose 28% to $20.5 billion.
4. Margin Outlook and Costs
Gross margins exceeded projections, though Apple warned that rising memory prices and ongoing supply constraints could pressure profitability in the near term.