China iPhone sales boosts Apple; shares up modestly

By on April 28, 2015

(Reuters) – Apple Inc (AAPL.O) raised its dividend and boosted its share repurchase application via $ 50 billion because it pronounced a 27 percent upward thrust in quarterly Revenue on the again of surging iPhone sales.

Essentially The Most precious publicly traded U.S. firm offered Sixty One.2 million iPhones in the quarter, up 40 % from the 12 months-ago quarter, but down from the record-breaking holiday quarter. It offered 12.6 million iPads, down 23 % from a year ago.

Its shares rose 1.6 percent in after-hours buying and selling to $ 134.Fifty Two.

“A 60 million-plus iPhone quantity is a house run and will probably be cheered by using the road as this is still the bread and butter of Apple,” mentioned FBR Capital Markets analyst Daniel Ives. “the street was once searching for a $ One Hundred Fifty billion buyback, we’d signify a $ 200 billion buyback as exactly what the street needed as this has been a scorching button issue.”

Apple increased its share repurchase authorization to $ 140 billion from $ Ninety billion announced last year.

On prime of that, it raised its quarterly dividend Eleven percent to 52 cents per share. Collectively, Apple estimated that will mean returning $ 200 billion to shareholders by means of the tip of March 2017.

Apple stated net income rose to $ Thirteen.57 billion, or $ 2.33 per share, from $ 10.22 billion, or $ 1.Sixty Six per share, a yr previous.

Analysts had expected revenue per share of $ 2.16 per share, in keeping with Thomson Reuters I/B/E/S.

Earnings rose to $ Fifty Eight.01 billion in the second quarter ended March 28, from $ 45.65 billion a year past. That beat Wall Side Road’s expected Earnings of $ 56 billion.

(Reporting via Devika Krishna Kumar in Bengaluru; Modifying by using Sriraj Kalluvila, Bernard Orr)

Reuters: Technology Information

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