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Benzinga
Benzinga
Business
Shanthi Rexaline

Apple's Q2 Exceeds Expectations Buoyed By Record Services Revenue, Authorizes $90B Stock Buyback

Apple Services Nasdaq Katy Huberty China Covid-19 Supply chain

Apple, Inc. (NASDAQ:AAPL) delivered another strong quarter, just ahead of the intensification of supply chain issues due to COVID disruptions in China.

The top- and bottom-line outperformance was driven by record Services revenue and strength across all products, except for the iPad. The installed base of active devices rose to a record, signaling strong momentum going forward.

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