Saturday, May 25, 2024

Apple’s Profit Nearly Doubles as iPhone Sales Soar

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The New York Times: Apple’s profit nearly doubled in its second fiscal quarter, reaching $11.62 billion, or $12.30 a share, compared to $5.99 billion, or $6.40 a share, the previous year. Quarterly revenue totaled $39.19 billion. Strong sales of iPhones and iPads helped contribute to the good results. The company sold 35.1 million iPhones (an 88 percent year-over-year increase) and 11.8 million iPads (a more than 100 percent increase).

During the quarter, Apple’s sales in China tripled, with revenue from that country reaching $7.9 billion. “It was an incredible quarter in China,” said CEO Tim Cook. “It is mind-boggling that we could do this well.”

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