Apple's Highest Ever Profit Eased IPhone Sales Fears By Announcing A Buyback Of $100 Billion In Red Envelopes
- May 02, 2018 -

Record quarterly earnings and revenues temporarily eased investor concerns about weak iPhone sales, with the Chinese market Posting double-digit revenue growth.Apple, like the market, is expected to increase share buybacks and dividends, reflecting the positive impact of tax reform.

on Tuesday, May 1 the time apple released, the Gregorian calendar in the first quarter of 2018, apple's fiscal 2018 second quarter, diluted earnings per share (EPS) $2.73, up 25.3% from a year earlier, market expectations of $2.64;Revenue for the quarter was $61.1 billion, with market expectations of $60.9 billion.Net income was $13.8 billion, compared with $11 billion a year earlier.First-quarter EPS, revenue and net profit were the highest quarterly records in apple's history.

Apple expects revenue of $515 to $53.5 billion in the third quarter, up from a market forecast of $51.4 billion.Gross margin is expected to be 38%-38.5% and market expectations 38.3%.Operating expenses are estimated at $7.7 billion to $7.8 billion, with a projected tax rate of about 14.5 percent.