Apple kept the good times rolling with another quarter that beat estimates across the board.
The iPhone giant’s latest earnings, coming off a white-hot holiday quarter, mark the beginning of the end of the Tim Cook era as he gets ready to step down as CEO in September.
Apple reported revenue of $111.2 billion, up 17% year over year and topping Wall Street’s estimates of $109.6 billion. Earnings per share also topped expectations at $2.01.
Apart from eyeing rising hardware demand in the company’s iPhone and Mac segments, Wall Street is deeply curious about what the next chapter of leadership looks like for Apple.
Cook presided over a nearly 2,000% gain in Apple stock in his 15-year run as CEO, growing the company into a $4 trillion behemoth. Incoming chief John Ternus, with his “product guy” hardware pedigree, will be expected to continue the stellar run while also making his own mark.
The company heads into its fiscal second-quarter report with the stock down slightly year to date, though it’s up 28% in the last 12 months.
Apple’s call with analysts will begin at 5 p.m. ET, and it’s possible we’ll hear from its newly crowned CEO — follow along for the latest:
