Apple¡¯s quarterly results and forecast beat modest expectations on Thursday, as the iPhone-maker unveiled a record share buyback program, sending its stock up almost 7% in extended trade.
Apple increased its cash dividend by 4% and authorized an additional program to buy back $110 billion of stock. The buyback is the largest in the company¡¯s history, according to Investing.com analyst Thomas Monteiro.
Apple¡¯s quarterly revenue fell, but less than analysts had expected, and CEO Tim Cook said revenue growth would return in the current quarter.
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