Despite a 4.3% drop in revenue to $90.8 billion in the March quarter, the figures surpassed analysts' predictions of $90.3 billion. Profits also exceeded Wall Street's projections for the period. Additionally, Apple announced the largest stock buyback in US history.
Key takeaways:
- Apple Inc. shares increased after the company reported stronger-than-expected sales last quarter.
- The company predicts a return to growth in the current period, indicating a potential easing of the recent slowdown.
- Despite a 4.3% fall in revenue to $90.8 billion in the March quarter, this was still better than the $90.3 billion predicted by analysts.
- Apple announced the biggest stock buyback in US history, also exceeding Wall Street's profit projections for the period.