Apple announced FY17 Q2 result with consolidated revenue of $52.9 billion and net income of $11.0 billion, resulting in a net profit margin of 21%. Both the quarterly revenue and net income increased by 5% on a yearly basis while the revenue fell by an expected 32% compared to the previous quarter, which is the peak holiday season.
The company attributed the robust financial performance to the continued strong demand for new iPhone7 models, with the iPhone segment contributing 63% of total revenues. The company also issued FY17 Q3 guidance with revenue in the range of $43.5-45.5 billion.
