Apple sells 52.2 million iPhone handsets in fiscal Q2, fails to beat estimates but stock still soars

Apple also sold 9.1 million iPad tablets during the three month period, basically in-line with forecasts of 9.17 million units. Products like the Apple Watch and the HomePod smart speaker were mixed into the "others" category, which had $3.9 billion in revenue for the quarter. That beat analyst's forecast of $3.7 billion. Cook noted that wearables, which include the Apple Watch, had a 50% hike in revenue.
Revenue for the company topped estimates at $61.1 billion, and earnings per share also came in above expectations at $2.72 a share. And to help bolst the mood of Apple investors, the company said that its fiscal Q3 revenue will be in a range between $51.5 billion to $53.5 billion. Wall Street expected Apple to forecast $51.61 billion for the next quarter. The company reported growth in all geographic segments including a pop of 20% in Greater China and Japan. Cash on hand declined to the lowest balance since June at $267.2 billion.
After hours, Apple shares soared 3.7% to $175.38. The high for the year is $183.50. And just like that, Wall Street's "full panic mode" over Apple is over.
source: CNBC
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