Apple continued its spree of beating Wall Street’s expectations today when it announced the results of its fiscal second quarter after the close of the markets today.
The Cupertino-based company announced quarterly revenue of $58 billion, up 27 percent from the first three months of 2014, when Apple reported $45.6 billion in total sales. That exceeded the consensus estimate from analysts surveyed by Thomson Reuters of almost $56.1 billion.
Apple’s net profit for the quarter was $13.6 billion, up 33 percent year-over-year from $10.2 billion. That translated into earnings of $2.33 a share, which beat analyst expectations by 17 cents per share.
Sales of the iPhone remained strong, with Apple selling slightly more than 61 million handsets in the quarter. That’s an increase of 40 percent over the year-ago quarter, fueled in part by the popularity of the iPhone 6 and 6 Plus around the world. Once again, sales of the iPad disappointed, with Apple reporting that it sold 12.6 million tablets in the quarter. That’s down 23 percent year-over-year, and continues the iPad’s sales slide from previous quarters.
While sales of personal computers have been falling, Mac sales grew 10 percent year over year to almost 4.6 million units.
The company will also be returning more cash to shareholders, expanding its share buyback program from $90 billion to $140 billion, and increasing the dividend for this quarter by 11 percent.
As of this writing, Apple’s stock was up 1 percent in after hours trading. The company’s detailed financial results are embedded below.