iPad Sales Q2 2017 and Apple Earnings

Apple has just released its financial results for the second quarter of 2017. The report says that 50.8 million iPhones were sold which was expected and 10 million iPad tablets were sold, 9.8m to be exact.

iPad Sales Q2 2017

Apple earned quarterly revenue of 52.9 billion dollars and earnings of 2.10 dollar per diluted share. In comparison to last year’s same quarter, this is a definite increase, $50.6 billion dollar and 1.9 dollars per diluted share.

Apple claims that it will be getting revenue of between 43.5-45.5 billion in the coming Q3 2017 quarter as there is still strong demand for the iPhone 7. Tim Cook said that there is excellent response to the iPhone 7 product red special edition and due to this, Apple was able to enjoy strong momentum of their service business.

Infact, the company earned their highest ever revenue for the 13 week quarter. In the march quarter, the company had a strong operating cash flow of 12.5 billion and returned whopping 10 billion dollar to the investors. Luca Maestri who is the Apple’s CFO said that the company will be announcing additional 50 billion dollars increase to their capital return program today. You can find more information about it on Apple’s investor webpage here.