Apple share price up 5% on Q2 results revenue beat

The tech company beats earnings estimates in its Q2 revenue report.

Apple logo after Apple Q2 earnings Source: Bloomberg

Apple share price is up 5% in US afterhours trading after a better-than-expected Q2 earnings report. Apple’s Q2 earnings exceeded Wall Street expectations.

Apple earnings:key figures

Earnings per share $2.46
Revenue $58.02 billion
iPhone revenue $31.05 billion
Services revenue $11.45 billion

Apple share price up 5% on Q2 results revenue beat

Apple's Q2 earnings per share were $2.46, exceeding the $2.36 Wall Street expected. Apple chief executive officer, (CEO), Tim Cook, noted that sales improved in China, which helped boost Apple’s Q2 revenue.

‘The tone[of the US-China trade relationship] is much better than it was in the November-December[2018] timeframe. I think that affects consumer confidence in a very positive way,’ said Cook.

Though iPhone sales were down overall to $31.05 billion from Q2 2018’s $37.6 billion, the revenue was better than the predicted $30.5 billion. While Apple’s Q2 profits were projected to be affected by slowing iPhone sales, Apple’s Q2 revenue still beat expectations at $58.02 billion.

Apple’s Q2 profits also increased because of the corporation's services earnings, which topped $11.45 billion. Services like Apple Music and iCloud helped drive up Apple’s Q2 earnings. The corporation hopes to expand its services division by launching an upcoming streaming service, Apple TV+.

How did Apple's Q2 earnings compare to other tech companies?

Compared to competitor Google parent Alphabet’s Q1 earnings, Apple’s Q2 profits were better-than-expected. Alphabet’s Q1 revenue fell below expectations with slow sales of its Pixel smartphone. Apple’s Q2 earnings were high because of improved international iPhone sales.

What is Apple’s Q3 earnings guidance?

Apple’s projected Q3 earnings are in the range of $52.5 billion-$54.5 billion. That projection is higher than Wall Street’s estimate of $51.94 billion.

Apple’s Q2 earnings show that it’s moving beyond iPhones

Apple’s Q2 revenue proves that as iPhone sales stall in the US, the tech company’s recent pivot to software has worked well for the company.


This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

Seize a share opportunity today

Go long or short on thousands of international stocks.

  • Increase your market exposure with leverage
  • Get spreads from just 0.1% on major global shares
  • Trade CFDs straight into order books with direct market access

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
Bid
Offer
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
Bid
Offer
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
Bid
Offer
Updated
Change
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-

Prices above are subject to our website terms and agreements. Prices are indicative only

Plan your trading week

Get the week’s market-moving news sent directly to your inbox every Monday. The Week Ahead gives you a full calendar of upcoming economic events, as well as commentary from our expert analysts on the key markets to watch.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider.You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.