Apple reported its financial results for the second quarter ended March 31, 2018 with net sales of $61.1 billion, an increase of 16%, compared to $52.8 billion in Q2 2017. Net income for Q2 2018 was $13.8 billion, an increase of 25.4%, compared to $11.0 billion in Q2 2017. Diluted earnings per share were $2.73 in Q2 2018, an increase of 30%, compared to $2.10 in Q1 2017.
Apple’s iPhone and iPad have been strong performers in this second quarter of 2018 and iPhone recorded revenues of $38 billion, an increase of 14%, compared to $33.2 billion whereas iPad recorded the revenues of $4.1 billion, up 6%, compared to $3.8 billion Q2 2017.
According to third quarter 2018 guidance, Apple expects its revenues to be between $51.5 billion to $55.5 billion with gross margin between 38% to 38.5%.
