iPhone 15. series provided by apple
Apple announced that it had approved $110 billion in stock repurchases, the largest ever.
Apple revealed its share buyback plan during its fiscal second quarter (January to March) earnings announcement after the market closed on the 2nd (local time). The stock repurchase amount is a 22% increase from last year’s $90 billion, making it the largest ever. In addition, Apple also decided to pay a dividend of $0.25 per share.
Apple’s first quarter sales, disclosed this day, were $90.75 billion, which exceeded the market estimate ($90.01 billion) compiled by market research firm LSEG. Earnings per share were $1.53, beating the forecast of $1.50.
However, compared to the same period last year, sales fell by 4% and net profit also fell by 2%. iPhone sales ($45.96 billion), which account for more than half of Apple’s total sales, were similar to market expectations ($46 billion), but down more than 10% compared to a year ago ( $51.33 billion).
CEO Tim Cook said the company has “big announcements planned” on AI at its new iPad launch next week and its annual developer conference in June.
Meanwhile, Apple’s stock price rose as it announced its earnings and unveiled a large-scale shareholder return policy.
On this day, Apple’s stock price closed 2.2% higher in regular trading and has risen more than 7% in after-hours trading since the news of the stock purchase was made public.
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