Apple reported today that it brought in $45.6 billion in revenue during the second quarter of its fiscal year, up more than 4.5 percent year-over-year. That beat analyst expectations of $43.6 billion in quarterly revenue, which is a positive sign for the company.
The company beat expectations with earnings of $11.62 per share, up more than 15 percent from the year-ago quarter. Analysts surveyed by Thomson Reuters had predicted that the company would report a much more modest earnings number of $10.18 per share.
“We’re very proud of our quarterly results, especially our strong iPhone sales and record revenue from services,” Apple CEO Tim Cook said in a press release. “We’re eagerly looking forward to introducing more new products and services that only Apple could bring to market.”
The company sold 43.7 million iPhones and 16.4 million iPads during the quarter, compared to 37.4 million iPhones and 19.5 million iPads sold in the year-ago quarter.
While the year-over-year drop in iPad sales has some analysts worried, this report is a boon overall for Apple’s standing on Wall Street. Analysts had been expecting a fairly ho-hum quarter with revenue and earnings remaining flat year-over-year, and today’s results were a very positive sign.
In addition to all of the financial news, Apple announced that it will be launching a 7-for-1 stock split on June 2, meaning that current holders of the company’s stock will soon have six more shares for each share they own. The company will also be expanding its stock buyback program, and plans to spend $130 billion of its cash to buy back shares through the end of 2015. Apple announced a dividend of $3.29 per share, and said that shareholders will also see an annual increase in its dividend every year.
Wall Street has welcomed the news, with shares of Apple stock up almost 8 percent in after-hours trading as of this report.
Here’s a more detailed look at Apple’s financials for the quarter: