Apple Inc. (AAPL) is the leading designer, manufacturer and marketer of smart phones, personal computers, tablets, wearables and accessories, and sells a variety of related services through its App Store and other programs.
The company generated 54% of its revenue from iPhone, 10% of its revenue from Mac, 8.7% of its revenue from iPad, 8.7% of its revenue from wearables, home and accessories, and the remaining from services during the quarter ended March 27, 2021.
Better than Expected Q2 Results
Apple reported fiscal second quarter revenue that rose 53.7% to $89.6 billion, beating consensus estimates by $12.31 billion, while GAAP earnings hit $1.40 per share, beating consensus estimates by 42 cents. Operating cash flow hit $24 billion, and cash and equivalents came in at $38.5 billion versus a $38 billion estimate.
The financial results included record revenue in each of its geographic segments and strong double-digit growth in each of its product categories, which contributed to an all-time high installed base of active devices. Of course, the global chip shortage could have an impact on upcoming sales over the next year until the supply chain issues are resolved.
The company raised its quarterly dividend by 7.3% to $0.22 per share, which represents a 0.66% forward yield. The dividend is payable on May 13, 2021, to shareholders on record as of May 10, 2021. In addition, the board of directors authorized a $90 billion increase to its existing share repurchase program.
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