Apple +4.4% after Q2 beats on rev, EPS, device shipments, and Services rev

|About: Apple Inc. (AAPL)|By:, SA News Editor

Apple (NASDAQ:AAPLgains 4.4% aftermarket on Q2 results that beat on EPS, revenue, iPhone and iPad shipments, and Services revenue.  

Q3 guidance: Revenue, $51.5B to $53.5B (consensus: $51.6B) with gross margin of 38% to 38.5%, other income of $400M, and a tax rate of 14.5%.

Device shipments: iPhone, 52.2M (consensus: 52M; 50.8M last year); iPad, 9.1M (consensus: 8.8M; 10.2M last year); MAC, 4.1M (met consensus; 4.2M last year). 

Services: Services revenue grew 31% on the year to $9.19B, above the $8.4B consensus. 

China performance: Analysts have been expected Apple to lose Chinese market share due to low demand for premium smartphones. Revenue in the region was up 21% in the quarter to $13B but dropped 27% sequentially. 

Capital allocation: $100B share repurchase program and a 16% dividend increase, both in-line with estimates.  

Earnings call starts at 5 PM with a webcast available here.

Press release.  

Previously: Apple beats by $0.05, beats on revenue (May 1)

Previously: Apple declares $0.73 dividend (May 1)

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