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Apple Announces Q2 Financial Results And $100 Billion Share Buy Back Scheme

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Apple Q2 Financial Results

Apple has announced its financial results for its fiscal second quarter which ended on the 31st of March 2018. The company had revenue of $61.1 billion, this is up some 16 percent on the same quarter in the previous year.

Apple also announced a new $100 billion share repurchase authorization and this will be complete as part of a $210 billion share buyback which will date place in their third fiscal quarter.

“We’re thrilled to report our best March quarter ever, with strong revenue growth in iPhone, Services and Wearables,” said Tim Cook, Apple’s CEO. “Customers chose iPhone X more than any other iPhone each week in the March quarter, just as they did following its launch in the December quarter. We also grew revenue in all of our geographic segments, with over 20% growth in Greater China and Japan.”
“Our business performed extremely well during the March quarter, as we grew earnings per share by 30 percent and generated over $15 billion in operating cash flow,” said Luca Maestri, Apple’s CFO. “With the greater flexibility we now have from access to our global cash, we can more efficiently invest in our US operations and work toward a more optimal capital structure. Given our confidence in Apple’s future, we are very happy to announce that our Board has approved a new $100 billion share repurchase authorization and a 16 percent increase in our quarterly dividend.”

You can find out more information on Apple’s financial results for their second fiscal quarter over at their website at the link below.

Source Apple

Filed Under: Apple, Technology News



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