Apple Q2 Revenue Tops $111B, Shares Up 5%

Apple shares surged more than 5 percent on Friday, reaching around $284, after the company reported stronger-than-expected fiscal second-quarter results that ended March 28. The iPhone maker posted revenue of $111.2 billion, a 17 percent increase from the year-ago period, and diluted earnings per share of $2.01, up 22 percent and surpassing analyst estimates of about $1.96 per share and $109.7 billion in revenue.

The results marked Apple's best March quarter on record, with double-digit revenue growth across every geographic segment, according to CEO Tim Cook. iPhone revenue hit a March-quarter high of $56.99 billion, up more than 20 percent year over year, driven by what Cook described as "extraordinary demand" for the iPhone 17 lineup. Services revenue reached another all-time high of nearly $31 billion, up 16 percent, bolstered by Apple's expanding installed base of active devices. Mac sales rose 6 percent to $8.4 billion, fueled by strong demand for the new low-cost MacBook Neo as well as Mac mini and Mac Studio models among AI developers. Greater China revenue came in at $20.5 billion, exceeding expectations despite tariff concerns.

Net income climbed 19 percent to $29.6...