Apple's second quarter results, announced on Thursday, revealed a smaller-than-expected drop in sales, surpassing profit estimates and boosting shares by up to 4% in after-hours trading.
Despite a decline of 8% in Greater China revenue, reaching $16.37 billion, it outperformed analysts' predictions of $15.87 billion. iPhone revenue hit $45.96 billion, down from $51.33 billion in the same quarter last year.
In total, Apple (
AAPL) reported earnings per share (EPS) of $1.53 on revenue of $90.8 billion, surpassing Wall Street estimates of EPS $1.50 on revenue of $90.3 billion. Additionally, the company announced authorization for an additional $110 billion for share repurchases and increased its dividend to $0.25 per share.
While facing challenges from a resurgent Huawei and a slowing Chinese economy, Apple's CFO Luca Maestri noted growth in m ...
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