Apple shares saw a boost in aftermarket trading after beating Wall Street's estimates with a year-over-year sales decline of 4.3%, while iPhone sales remain flat.
Apple, Inc. posted a year-over-year decline in revenue in its fiscal second-quarter earnings report after the bell on Thursday but still beat Wall Street's expectations. The tech giant's sales fell 4.3% from the prior year, coming in at $90.75 billion. Analysts anticipated $90.01 billion. IPhone sales fell 10.5% to $45.96 billion, in line with expectations.
Shares of Apple rose almost 3% in extended trade after the report. Apple's stock has fallen 10% so far in 2024, underperforming the S&P 500's 6% rise. Apple also announced a share buyback of an additional $110 billion and said it is raising its quarterly dividend for the 12th year in a row. GET FOX BUSINESS ON THE GO BY CLICKING HERE Reuters contributed to this report.
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