Apple Q2: EPS $1.53, $90.8B Revenue, $110B Buyback, Dividend $0.25, Stock +4% AH

May 2, 2024, 08:33 PM

Apple Inc. reported its Q2 2024 earnings, surpassing Wall Street expectations with an EPS of $1.53 against the anticipated $1.51 and revenue of $90.8 billion, down from $94.8 billion the previous year, exceeding the forecasted $90.6 billion. The company also announced a significant increase in its quarterly dividend to $0.25 per share and a new $110 billion stock buyback program. This financial maneuver comes despite a 10% decline in iPhone sales, totaling $45.96 billion, and a 4% decrease in overall revenue. Product-specific revenues included $7.45 billion from Macs, $5.56 billion from iPads, $7.91 billion from wearables, and $23.86 billion from services. Greater China revenue was reported at $16.37 billion. Apple's performance led to a 4% increase in its stock price in after-hours trading.