Apple’s Q2 earnings: iPhone sales continue to drop as services keep growing

Apple just reported its second quarter financial results, posting quarterly revenue of $58 billion (down 5 percent from the same quarter a year ago) earnings per share of $2.46. The company said its crucially important services division hit an all-time high of $11.5 billion in revenue. iPhone revenue came in at $31.05 billion, still down year over year but enough to make up over 53 percent of Apple’s entire revenue. Mac sales were down, but the iPad, wearables/home/accessories, and services units of Apple’s business all saw gains.

“We delivered our strongest iPad growth in six years, and we are as excited as ever about our pipeline of innovative hardware, software and services,” CEO Tim Cook said in the accompanying press release....

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