Apple Beats Expectations for Quarterly Earnings
The company sold 61.2 million iPhones, a fiscal second-quarter record.
Apple said on Monday that it earned $2.33 per share in its fiscal second quarter on $58 billion revenue, beating the expectations of analysts on both the top and bottom lines.
Analysts had expected Apple to earn $2.15 per share in its second quarter, up from $1.66 in the same frame a year ago. Revenue was predicted at $55.9 billion, up from $45.6 billion last year.
Apple also said on Monday that it will return a mammoth $200 billion to shareholders, up from the $130 billion it had previously planned. Therefore, it upped its dividend 11 percent to 52 cents per share. The company ended the quarter with $194 billion in cash on its books.
Apple said that the sale of 4.6 million Mac computers and 61.2 million iPhones were recordd for the fiscal second quarter. The app store also set a record with nearly $5 billion in revenue. Sales of iPads, though, were 12.6 million, which was below the forecast of analysts.
The company said its revenue in the Americas rose 19 percent to $21.3 billion while revenue in the China region exploded 71 percent to $16.8 billion.
During Apple's previous quarter, which coincided with the Christmas gift-giving season, it set a record: $18 billion in profit, more than any other corporation has ever made in a three-month timeframe. This time around, its net income was a still-hefty $13.6 billion.
Executives during a conference call with analysts on Monday touted the popularity of HBO Now, the recently launched, stand-alone streaming service for new and old HBO shows. For Apple TV users, HBO Now is one of the top downloads.
The executives also said the new Apple Watch, which was made available for purchase online on Friday, is getting positive reviews from users. While Apple said more people bought watches than expected over the weekend, the company did not disclose exact numbers.
Shares of Apple rose 2 percent on Monday to $132.65 and were up an additional 1 percent after the closing bell.