Shares of Apple were up nearly 4 percent Tuesday after the company beat earnings expectations and met iPhone sales estimates for its fiscal second quarter.
Apple posted $61.1 billion in revenue, up 16 percent, and earnings per diluted share of $2.73. That beat expectations of $60.9 billion and EPS of $2.64.
The company sold 52.2 million iPhones last quarter, which was up 2.9 percent from the year-ago quarter. That met analyst estimates and beat others, Bloomberg reported. Apple sold 9.1 million iPads; 4.1 million Mac devices; and posted $9.1 billion in services revenue.
“We’re thrilled to report our best March quarter ever, with strong revenue growth in iPhone, Services and Wearables,” Apple CEO Tim Cook said in a statement. “Customers chose iPhone X more than any other iPhone each week in the March quarter, just as they did following its launch in the December quarter. We also grew revenue in all of our geographic segments, with over 20% growth in Greater China and Japan.”
Apple also announced a $100 billion share repurchase authorization, resulting in a 16 percent increase in quarterly dividends.