Consumer electronics giant Apple narrowly beat Wall Street's estimates for its fiscal second quarter. Apple stock rose on the news.
(Reuters) -Apple on Thursday reported a smaller than expected decline in quarterly revenue, and Chief Executive Tim Cook told Reuters the company expects a return to sales growth in the current quarter as it invests in AI features to be unveiled in the coming months. Apple increased its cash dividend by 4% and authorized an additional program to buy back $110 billion of its stock. Shares of Apple surged roughly 7% in extended trade after the report.
Apple reported better than expected Q2 earnings and increased its dividend to $0.25 per share.