
Apple reported fiscal second-quarter earnings on Thursday that were slightly higher than Wall Street expectations, but showed overall revenue down 4%, and iPhone sales falling 10%.
Apple announced that its board had authorized $110 billion in share repurchases, a 22% increase over last year’s $90 billion authorization. It’s the largest-ever in history, ahead of Apple’s previous repurchases, according to data from Birinyi Associates.
Apple shares rose 3% in extended trading.
Here’s how Apple did versus LSEG consensus estimates in the March quarter:
- EPS: $1.53 vs. $1.50 estimated
- Revenue: $90.75 billion vs. $90.01 billion estimated
- iPhone revenue: $45.96 billion vs. $46.00 billion estimated
- Mac revenue: $7.5 billion vs. $6.86 billion…