The company also announced a $100 billion share buyback in addition to boosting its dividend by 16% to $0.73 per share.
Since the launch of its initial capital return program in August 2012, through March 2018, Apple has returned $275 billion to shareholders, including $200 billion in share repurchases.
Earnings per share rose 30% to $2.73, ahead of analyst projections of $2.67.
IPad sales were also up in Q2, with Apple selling 9.11 million tablets compared to 8.92 million this time a year ago.
The earnings announced after the closing bell also put to rest questions surrounding the demand for Apple products, primarily the iPhone, in China.
Going forward, Apple expects revenue between $51.5 billion and $53.5 billion for the third quarter, which would be another record. Cook particularly addressed how the company is doing in India, the world's fastest growing smartphone market.
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"And so we are working toward those things". "We also collect much less overall than others do...."
It's also hard to quantify how much of the repatriated money is being funneled to shareholders.
"We still believe that over time every phone sold will be a smart phone, so it seems to us. that's a pretty big opportunity", he said on a call with investors. That pledge implies Apple still has $145 billion to spend, based on its net cash through March, down from $163 billion at the end of 2017. "I assume Apple can't find a strategic investment at the current prices that will move the needle for them". Worldwide sales accounted for 65 percent of the quarterly revenue.
Despite suggestions that the iPhone X may have flopped, the company instead sold 52.2 million iPhones for the quarter, up from 50.8 million for the same period a year ago.
Apple had been seen as being under particular pressure from cheaper rivals as the iPhone 8 range and the 10th-anniversary edition iPhone X received lukewarm reviews. In Q2 2018, the other products revenue stood at $3.95 billion, a stronger growth compared to $2.87 billion reported during second quarter of 2017. Revenue climbed 16 percent to $61 billion.
Average selling prices for iPhones rose to $728 from $655 a year ago - apparently helped by demand for the iPhone X - though this missed expectations of $742.