- Apple reported its fiscal second-quarter earnings on Thursday.
- The company beat on sales and earnings per share, and did better than expected in China.
- Apple announced a $110 billion stock buyback — its biggest ever. Shares climbed 6% after hours.
Apple reported fiscal second-quarter earnings on Thursday after the closing bell. Wall Street was pleased, with shares popping 6% in after-hours trading.
The company reported revenue and earnings per share that beat consensus expectations. It also saw better-than-expected sales in Greater China, which has been a source of concern for investors wary of a slowdown.
However, overall iPhone sales were down 10% year over year.
The tech titan also said it will increase its quarterly dividend to 25 cents a share, up from 24 cents, and repurchase an additional $110 billion of stock — its largest ever share buyback.
Apple’s stock climbed 2.2% on Thursday ahead of the earnings results, but was still down 10% year-to-date at the close.
