Apple Reports Q2 Earnings Beat, Announces $100B Buyback

Apple reported strong fiscal second-quarter results, surpassing Wall Street expectations with earnings of $1.65 per share and revenue of $95.36 billion, both up from the previous year. iPhone sales rose 1% to $46.84 billion, outperforming estimates, while performance in China showed improvement with a smaller decline than before. However, revenue from Apple's high-margin services business, though increasing year-over-year, fell slightly short of analyst projections. Other product categories showed mixed results, with Mac revenue exceeding expectations but wearables, home, and accessories missing targets. Apple also announced a $100 billion stock buyback program and raised its quarterly dividend by 4%. Despite the positive results, Apple shares fell more than 2% in after-hours trading.