Apple (AAPL.US) shares advanced on Friday after the company released its latest earnings report, climbing more than 5% to $285.39 at the time of writing. For the second fiscal quarter ended March, Apple reported double-digit growth in both revenue and net profit, with its core iPhone business surging 22%. Total revenue reached $111.184 billion, up 17% from $95.359 billion in the same period last year. Net profit came in at $29.578 billion, a 19% year-over-year increase, while diluted earnings per share rose 22% to $2.01, setting a new record for the March quarter. iPhone revenue totaled $56.994 billion, up 22% year-over-year, accounting for more than half of total revenue and serving as the primary driver of growth. Notably, Apple's services business continued its strong growth trajectory, with revenue increasing 16% to $30.976 billion, also reaching a new historical high. The services segment, which has been a key focus for Apple in recent years as a secondary growth engine, has now become a stable revenue source. Among other businesses, Mac revenue rose 6% to $8.399 billion, iPad revenue increased 8% to $6.914 billion, and wearables, home, and accessories revenue grew 5% to $7.901 billion.
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