By coinnews 
00:00 Speaker A
All right, let’s stand go over to Josh Lipton with those numbers.
00:05 Josh Lipton
All right, Apple’s numbers just crossing. Let’s get right to it. Q2 EPS a dollar 65. The street was at a dollar 62. That’s a beat. Revenue 95.4 billion versus expectations of 94.59 billion. So beats there on the top and the bottom. Top line grew about 5%. Gross margins clock in at 47.1. Let’s get to the segments. iPhone 46.84 billion, that is versus expectations of 45.94 billion. Services 26.64 billion, street was at 26.72 billion. Mac 7.95 billion, iPad 6.4 billion, wearables, home and accessories 7.5 billion. Greater China, now that comes in at 16 billion. Consensus was more around 16.8 billion. Now front and center for Apple investors this quarter we know we know it’s tariffs. What is Apple’s messaging going to be there? It’s strategy, it’s gameplay, and Apple is saying wait for the conference call which is going to start shortly at 5:00 p.m. Eastern for that. As well as we know, we’re waiting for guidance. We’d expect to hear more about that on the call as well. I did get the chance to speak to Apple CFO Kevin Parek about the quarter. Just give you those comments on on the quarter itself. He said new all-time high for Apple’s installed base of active devices. Uh, Kevin mentioned Apple iPhone revenue up 2%, iPhone active installed base he said all-time high, double-digit growth for upgraders he noted. All-time revenue record on services, pointed out that was up 12%. On iPhone in Q2, one question that’s top of mind uh for the street, for investors, did Apple see evidence that consumers were buying iPhones to get ahead of those tariffs, front loading so to speak. Kevin Parek telling us, for the March quarter, we don’t believe we saw any evidence of pull ahead demand for iPhone. On China, I mentioned that comes in at 16 billion, street was close to 16.8. Ask Kevin Parek for some more color there. Uh, Parek saying December quarter we were down 11%. His point being that they are seeing sequential improvement because now you’re down uh minus 2%. I asked him about local competition. Some analysts think, listen, is that a factor? Has that become more intense over there? Kevin Parek said it’s always been intense. China has always been a very competitive market. We’re focused, he said, on simply building the best products. Finally, on Apple intelligence, its new AI features, I asked him any updated timeline on when European and Chinese regulators approve Apple intelligence. No updates, Kevin Parek said to talk about right now. Guys, back to you.
03:49 Speaker A
Josh, there’s one other thing I want to mention here that stands out to me and that is a big new buyback authorization which seems to acknowledge here, you know, some of the troubles that the stock has had and some of the potential rockiness going forward. $100 billion buyback here that the company is authorizing. It’s raised its cash dividend to 26 cents a share as well. So returning some of its ample, still ample cash to shareholders, uh perhaps as a sort of carrot for or an enticement to try to weather this period here. Um, did they have anything to say in particular about that, the decisions on that cash return?
04:43 Josh Lipton
So this is, you know, this is always the quarter when Apple does update its capital return program, right? So investors would have been expecting that news. On that point in the statement, CFO Kevin Parek does address that. Says our March quarter business performance drove EPS growth of 8%, $24 billion operating cash flow, he says, allowing us to return $29 billion to shareholders. He noted Julie.