Apple (AAPL) earnings report Q2 2024 [Video]

Apple reported fiscal second-quarter earnings on Thursday that were slightly higher than Wall Street expectations, but showed overall revenue down 4%, and iPhone sales falling 10%. 

Apple announced that its board had authorized $110 billion in share repurchases, the largest in the company’s history, and a 22% increase over last year’s $90 billion authorization.  

Here’s how Apple did versus LSEG consensus estimates in the March quarter: 

• EPS: $1.53 vs. $1.50 estimated 
• Revenue: $90.75 billion vs. $90.01 billion estimated 
• iPhone revenue: $45.96 billion vs. $46.00 billion estimated 
• Mac revenue: $7.5 billion vs. $6.86 billion estimated 
• iPad revenue: $5.6 billion vs. $5.91billion estimated 
• Other Products revenue: $7.9 billion vs. $8.08 billion estimated 
• Services revenue: $23.9 billion vs. $23.27 billion estimated 
• Gross margin: 46.6% vs. 46.6% estimated 

Apple did not provide formal guidance, but Apple CEO Tim Cook told CNBC’s Steve Kovach that overall sales would “grow low single digits” during the …