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Apple increases dividend, share buybacks amid in-line Q1

2020-05-01 09:54:00| Telecompaper Headlines

(Telecompaper) Apple reported revenues for its fiscal second quarter to end March in line with expectations, up 1 percent year-on-year to USD 58.313 billion, but said service revenues reached a new all-time high of USD 13.348 billon (from 11.450 billion) and that wearables also reached record levels. Earnings per share lifted 4 percent meanwhile to USD 2.55. International sales accounted for 62 percent of total revenues and the operating cash flow increased by USD 2.2 billion to 13.3 billion. As a result, the company has lifted its quarterly cash dividend by 6 percent to USD 0.82 per share, from 0.77 per share in the previous quarter. The company also upped its existing share buyback programme by USD 50 billion.

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