Apple Posts 17% Q2 Revenue Growth to $111.18B, Guides 14%–17% Growth
AAPL•Apple reported fiscal Q2 revenue of $111.18 billion, up 17%, and EPS of $2.01, with iPhone sales of $56.99 billion and China revenue rising 28% to $20.5 billion. It forecast fiscal Q3 revenue growth of 14%–17%, projected a 47.5%–48.5% gross margin and authorized a $100 billion buyback.
1. Strong Q2 Results
The company reported fiscal Q2 revenue of $111.18 billion, a 17% year-over-year increase, driven by EPS of $2.01, iPhone sales of $56.99 billion, Services revenue up 16.3% to $30.98 billion, Mac revenue rising 5.7% to $8.40 billion, and wearables revenue climbing 5% to $7.90 billion.
2. Robust Q3 Guidance and $100B Buyback
Management forecast fiscal Q3 revenue growth of 14%–17%, well above consensus estimates, projected a gross margin of 47.5%–48.5%, and authorized a $100 billion share repurchase program to return capital to shareholders.
3. China Revenue Surge
Revenue in Greater China climbed 28% to $20.5 billion, marking a turnaround from prior headwinds and reflecting strong consumer demand for the iPhone 17 lineup.
4. Supply Constraints and Cost Pressures
Apple highlighted rising memory-chip costs and ongoing Mac supply constraints expected to persist for several months, which could pressure margins and production timing in the near term.
