Apple Q2 Beats Estimates with $111.2B Revenue, Boosts S&P 500 ETF
Apple delivered Q2 EPS of $2.01 on $111.2B revenue, compared with estimates of $1.96 and $109.66B, fueled by $56.99B in iPhone sales and over 20% segment growth. SPY edged higher, supported by Apple’s 1% stock gain and gains in S&P 500 futures following BOE rate-hike bet paring.
1. Apple Q2 Earnings Beat
Apple reported Q2 EPS of $2.01 on $111.2B revenue versus estimates of $1.96 and $109.66B. iPhone sales reached $56.99B, up over 20% year-on-year, while Services revenue hit $30.97B and Mac revenue came in at $8.39B, both above forecasts.
2. SPY Reaction
SPY edged higher following Apple’s roughly 1% share gain, reflecting the company’s significant weighting in the index. S&P 500 futures also rose, signaling investor optimism ahead of upcoming economic releases.
3. Global Market Cues
UK bonds rallied after the BOE pared rate-hike expectations, underpinning risk sentiment. In Japan, Finance Ministry officials declined to comment on yen intervention talk, keeping currency volatility on investors’ radar.