Apple’s gross margins and earnings per share were boosted by the tariff refunds the company received so far. Another $1 billion in tariff refunds are still unaccounted for.
Tariff refunds helped boost Apple’s June quarter
Tariff refunds helped boost Apple’s June quarter
Even as new potentially illegal tariffs affect Apple’s supply chain, the company has received refunds for some of the damages done by the previous illegal ones. Apple’s record-breaking quarter didn’t need the help of the tariff refunds, but it does add some extra flair to the already outstanding results.
Apple shared that its gross margin was 50.1% with a favorable impact of 2% provided by tariff refunds. Those refunds also mean diluted earnings per share gained $0.11, making the total $2.02 per share.