Apple beats expectations: iPhone sales surge 22%, but stock falls in after-hours trading

Apple reported stronger-than-expected second-quarter results: revenue of $109.42 billion, up 16.4% year-over-year. iPhone sales surged 21.7% to $54.25 billion, and Mac sales rose 28.7%. Net income increased 27.1% to $29.79 billion. However, the stock fell 4% in after-hours trading. The company announced a dividend of 27 cents per share. This is Tim Cook's last report as CEO.

Apple reported stronger-than-expected second-quarter results, with revenue of $109.42 billion, up 16.4% from the same quarter last year, beating analyst expectations of $108.65 billion. Net income rose 27.1% to $29.79 billion, and earnings per share were $2.02, above forecasts. Part of the profit increase, 11 cents per share, stems from a refund Apple received after the U.S. Supreme Court struck down most of the tariffs imposed by Trump last year. iPhone sales surged 21.7% to $54.25 billion, and Mac sales rose 28.7% to $10.35 billion. Services increased 12.1% to $30.74 billion, and wearables rose 6.5%. Only iPad declined by 5.9%. Geographically, Apple grew in all regions, led by China (22.43% to $18.82 billion) and Europe (22.41% to $29.4 billion). The stock fell 4% in after-hours trading. The company announced a dividend of 27 cents per share, payable on August 13. This is Tim Cook's last report as CEO, to be replaced in September by John Ternus.