Apple reports another blowout quarter with sales up 54%, authorizes $90 billion in share buybacks – News 24-7 Live News 24-7 Live
Apple reports another blowout quarter with sales up 54%, authorizes $90 billion in share buybacks

Apple reports another blowout quarter with sales up 54%, authorizes $90 billion in share buybacks

Apple reported a blowout quarter on Wednesday, announcing companywide sales up 54% higher than last year, and significantly stronger profits than Wall Street expected.  

Apple stock rose over 4% at one point in extended trading.  

Apple reported double-digit growth in every single one of its product categories, and its most important product line, the iPhone, was up 65.5% from last year. Its Mac and iPad sales did better, with its computers up 70.1% and iPad sales growing nearly 79% on an annual basis. 

Apple said it would increase its dividend by 7% to $0.22 per share and authorized $90 billion in share buybacks, which is significantly higher than last year’s $50 billion outlay and 2019′s $75 billion.  

News Source: cnbc

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