Bloomberg Surveillance

Apple delivered second-quarter revenue that edged past analysts’ estimates, helped by demand for the iPhone and Mac, while failing to produce the blowout results that some investors were anticipating.

Revenue gained 17% to $111.2 billion during the period, which ended March 28, the company said in a statement Thursday. Analysts had anticipated $109.7 billion on average. Apple itself had projected sales growth of 13% to 16%.

The company is benefiting from a series of new products launched in March, including the MacBook Neo, iPhone 17e, updated iPad Air models and a fresh MacBook Pro. The $599 Neo — Apple’s first major push into low-cost laptops — has been particularly popular and remains sold out at several retailers.

Still, the results were uneven. Apple fell short of expectations in the Americas and Europe regions, while exceeding projections in China and other parts of Asia. The iPhone — its flagship product — was in line with the average Wall Street estimate.

For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with:
Ed Ludlow, Bloomberg Tech co-host
Anurag Rana, Bloomberg Intelligence Senior Technology Analyst
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Tom Keene breaks down the Single Best Idea from the latest edition of Bloomberg Surveillance Radio.
In this episode, we feature our conversations with George Bory & Ed Hirs.
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Featuring:
Sharmin Mossavar-Rahmani, CIO: Wealth Management & Head: Investment Strategy at Goldman Sachs
National Economic Council Director, Kevin Hassett
Victoria Coates, Vice President of the Heritage Foundation
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The latest in finance, economics and investment.
Watch Tom and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF.
Bloomberg Surveillance hosted by Tom Keene & Paul SweeneyThursday, April 30th, 2026
Featuring:
1) Angelo Zino, at CFRA Research, joins to discuss Big Tech earnings, the AI spending blowout, and previews Apple
2) Jonathan Golub, Chief Equity Strategist at Seaport Advisors, joins to discuss his S&P call amid more big tech beats and whether AI spending or other factors will ultimately determine the market direction
3) Ed Hirs, Energy Fellow and lecturer at University of Houston, joins to discuss broken energy markets and what Brent Crude's melt up means for both oil and electricity markets in the US
4) Sophia Drossos, Economist and Strategist at Point72, talks about her US economic outlook and the importance of Fed dissent
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Four of the biggest companies in the US: Alphabet, Amazon, Meta and Microsoft all reported earnings after the bell.

- Meta Platforms shares slid after the company raised its spending outlook for the year, reigniting fears that the historic levels of investment it’s making to build artificial intelligence models won’t pay off.

- Microsoft's cloud business reported growth that narrowly beat analysts’ estimates, disappointing investors concerned that the company isn’t fully capitalizing on demand for AI services.

- Amazon spent more than anticipated to expand data center capacity in the quarter, fueling the fastest sales growth for its cloud unit in more than three years.

- Alphabet (GOOGL) reported quarterly revenue and profit that beat projections, fueled by strong growth in its cloud computing unit, signaling that the internet giant’s unprecedented investments in AI infrastructure are beginning to pay off.
For instant reaction and analysis, Bloomberg Businessweek Daily hosts Carol Massar and Tim Stenovec speak with:
Ed Ludlow, cohost of Bloomberg Tech
Ron Westfall, HyperFRAME Research Infrastructure and Networking VP & Practice Leader
Anurag Rana, Bloomberg Intelligence Senior Technology Analyst
Matt Day, Bloomberg News Technology Reporter
See omnystudio.com/listener for privacy information.