![\"Company](\"https:\/\/techcrunch.com\/wp-content\/uploads\/2020\/03\/GettyImages-535059175.jpg?w=730&crop=1\")
<\/p>\n<\/p>\n
Apple <\/a> delivered a rough Q2 earnings report Thursday, besting investor expectations but showing a significant growth slowdown as the coronavirus pandemic deeply impacted the company’s business with year-over-year declines in iPhone, iPad and Mac sales.<\/p>\n Apple’s stock was largely unchanged in after-hours trading.<\/p>\n The company shared that in Q2 it earned $58.30 billion in revenue, better than the $54.54 billion investors were expecting. The figure represents 1% year-over-year revenue growth for the company.<\/p>\n In February, the company issued<\/a> an update to its Q2 guidance, saying that it did not expect to meet its earlier estimates due to fallout driven by the COVID-19 pandemic. The company did not update its previous guidance, which said they expected to earn between $63 billion to $67 billion in Q2. Apple notably did not offer guidance for Q3 in this release.<\/p>\n In terms of earnings per share, the company delivered $2.55 compared to the $2.26 investors had expected. Apple also shared that they were increasing their share buyback program by $50 billion and would be hiking dividends by 6%.<\/p>\n Apple saw year-over-year declines in its iPhone, iPad and Mac categories, only showing gains in Services and its “Wearables, Home and Accessories” category. Hardware as a whole was down year-over-year. The company posted $28.96 billion in net iPhone sales compared to $31.05 billion in Q2 2019.<\/p>\n After a very rough March, most big tech stocks have been roaring back into growth in April. Apple is in a more difficult position than other ad-driven businesses given the global complexity of its hardware supply chain.<\/p>\n “We are proud of our Apple teams around the world and how resilient our business and financial performance has been during these challenging times,” Apple CFO Luca Maestri said in a statement accompanying the release.<\/p>\n Tags:<\/b> Lucas Matney<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Apple delivered a rough Q2 earnings report Thursday, besting investor expectations but showing a significant growth slowdown as the coronavirus pandemic deeply impacted the company’s business with year-over-year declines in iPhone, iPad and Mac sales. Apple’s stock was largely unchanged in after-hours trading. The company shared that in Q2 it earned $58.30 billion in revenue, better … Continue reading Apple’s Q2 earnings show flat year-over-year revenue growth due to pandemic<\/span><\/a> Continue Reading <\/div>\nSee Campaign: <\/strong>https:\/\/crunchbase.com\/organization\/apple<\/a>
Contact Information:<\/b>
Lucas Matney<\/p>\n
<\/a>, Wire<\/a>, Artificial Intelligence Newswire<\/a>, United States<\/a>, English<\/a><\/p>\n<\/div>\n
\nContact Information:<\/h3>\n