Apple's Q2 financial report shows record iPhone and services revenues
Apple reported $94 billion in earnings for the April, May and June months. The figure represents a 10% rise compared to last year and was fueled by double-digit growth across iPhone, Mac and Services.
Apple saw a record quarter for iPhone revenues with better-than-expected iPhone shipments in China and double-digit growth across Mac shipments. Net sales for iPhone topped $44.58 billion, up from $39.29 billion in Q3 of last year. Apple also confirmed that it shipped its 3 billionth iPhone this quarter.
Mac sales accounted for just over $8 billion. Cupertino also managed $27.42 billion in earnings from the Services sector, which includes the App Store and all subscription-based services, which is an all-time high. Sales for iPad and Wearables were down by 6.5% and 8.5% respectively.
Looking ahead, Apple could be facing some serious hurdles related to tariffs. Tim Cook revealed that the levies cost Apple $800 million over the last three months and could balloon up to $1.1 billion during the September quarter.
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