Apple reported fiscal second-quarter revenue of $111.2 billion. Earnings per share reached $2.01, surpassing Wall Street expectations.
IPhone sales set a March quarter record of nearly $57 billion. The Services division achieved an all-time revenue record. Mac and Wearables segments also posted year-over-year growth.
Limited supplies of advanced processor chips constrained iPhone sales. CEO Tim Cook stated that underlying consumer demand for the devices remained high.
Apple’s board authorized an additional $100 billion for share repurchases.