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Apple announces largest-ever $110 billion share buyback as iPhone sales drop 10%
Apple CEO Tim Cook told CNBC that quarterly sales suffered from a difficult comparison to the year-earlier period.
Apple shares climbed 7% in extended trading on Thursday after the iPhone maker reported fiscal second-quarter earnings that topped estimates and announced an expanded stock buyback program. On an earnings call with analysts, Apple finance chief Luca Maestri said the company expected the current quarter will deliver double-digit year-over-year percentage growth in iPad sales. Apple CEO Tim Cook waves to journalists after his meeting with Indonesian President Joko Widodo at the Presidential Palace in Jakarta, Indonesia, April 17, 2024.
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