Apple Reports Strong Fiscal Q2 Results
Apple’s revenue surged 17% year over year to $111.2 billion for its fiscal second quarter, which ended March 28, 2023. This growth was driven by a 22% increase in iPhone sales, totaling $57 billion, and a 6% rise in Mac sales to $8.4 billion, largely due to the launch of the MacBook Neo. Net income climbed 19% to $29.6 billion, with earnings per share rising 22% to $2.01.
The company also announced a 4% increase in its quarterly dividend to $0.27 per share and approved a new $100 billion stock buyback program. With over $120 billion in net profits over the past year and nearly $150 billion in cash reserves, Apple continues to solidify its status as a financial powerhouse.
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