Apple delivered second-quarter revenue that edged past analysts’ estimates, helped by demand for the iPhone and Mac, while failing to produce the blowout results that some investors were anticipating.
Revenue gained 17% to $111.2 billion during the period, which ended March 28, the company said in a statement Thursday. Analysts had anticipated $109.7 billion on average. Apple itself had projected sales growth of 13% to 16%.
The company is benefiting from a series of new products launched in March, including the MacBook Neo, iPhone 17e, updated iPad Air models and a fresh MacBook Pro. The $599 Neo — Apple’s first major push into low-cost laptops — has been particularly popular and remains sold out at several retailers.
Still, the results were uneven. Apple fell short of expectations in the Americas and Europe regions, while exceeding projections in China and other parts of Asia. The iPhone — its flagship product — was in line with the average Wall Street estimate.
For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with:
- Ed Ludlow, Bloomberg Tech co-host
- Anurag Rana, Bloomberg Intelligence Senior Technology Analyst
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