(May 3, 2018, Special to the USTimes, by Felix Richter) (For additional information provided by Apple not included in this post, see Apple’s official 2nd Quarter Results here.)
Apple reported better-than-expected results for its second fiscal quarter on Tuesday, following a script that seems awfully familiar by now. Every few weeks, an article surfaces citing supply chain sources saying that demand for [insert Apple product] is lower than expected and that Apple’s glory days are surely in the past. The company itself usually keeps quiet until delivering yet another sales/profit/growth record, followed by a slew of articles saying that Apple is the greatest company on earth and that it’s only a matter of time before it cracks the trillion-dollar milestone in terms of market capitalization.
This time around, despite reports of weak iPhone X sales and lackluster demand for the newly launched HomePod, Apple beat expectations across the board with revenue, profit and iPhone sales all coming in above analyst estimations. Moreover, Apple reported the fastest revenue growth since the fourth quarter of 2015, reminding us of Mark Twain and the fact that the reports of Apple’s death have been greatly exaggerated.
EDITOR’S NOTE: Full data summary below.