Special topic: Apple's Q2 revenue exceeding expectations in fiscal 2024 will buy back an additional $110 billion of shares.

Apple today released its results for the second quarter of fiscal 2024: total net revenue of 907Asiaqualifiers.53 billion US dollarsAsiaqualifiers, down 4% from a year earlier; net profit was 236Asiaqualifiers.36 billion US dollarsAsiaqualifiers, down 2% from a year earlier. Apple's revenue in Greater China in the second quarter was $16.372 billion, down 8 per cent from a year earlier. (note: Apple's fiscal year is out of sync with the natural year, from October 2023 to September 2024 in 2024).

Apple's diluted earnings per share and revenue beat Wall Street analysts' expectations in the second quarter, pushing its shares up more than 6% in after-hours trading.

Apple's board of directors approved a 4% increase in the quarterly dividend and will pay a cash dividend of $0.25 per share to the company's common shareholders, which will be paid on May 16, 2024 to shareholders of record ending business hours on May 13, 2024.

In addition, Apple's board of directors has approved another share buyback program that will buy back up to $110 billion worth of common shares in the future. This is the largest share buyback program in Apple's history, according to data provided by stock market research firm Birinyi Associates.

Detailed performance:

In the fiscal second quarter ended March 30, 2024, Apple's net profit was $23.636 billion, down 2% from $24.16 billion a year earlier, and diluted earnings per share were $1.53, up slightly from $1.52 a year earlier. Apple used a total of 15464709 outstanding shares to calculate earnings per share in the second quarter, compared with 15847050 shares in the same period last year.

Apple's second-quarter operating profit was $27.9 billion, down from $28.318 billion in the same period last year.

Apple's total net revenue in the second quarter was $90.753 billion, down 4 per cent from $94.836 billion in the same period last year. Of this total, Apple's second-quarter net revenue from products was $66.886 billion, down from $73.929 billion in the same period last year, while net revenue from services was $23.867 billion, up from $20.907 billion in the same period last year.

Apple's second-quarter gross profit was $42.271 billion, up from $41.976 billion in the same period last year.

Apple's diluted earnings per share and revenue beat Wall Street analysts' expectations in the second quarter. According to data provided by Yahoo Finance Channel, 27 analysts had expected Apple to earn an average of $1.50 per share in the second quarter, while 25 analysts had expected Apple to generate revenue of $90.01 billion.

By region:

Apple's revenue in the Americas was $37.273 billion in the second quarter, down from $37.784 billion in the same period last year.

Revenue from the European division was $24.312 billion, up from $23.945 billion in the same period last year.

Revenue in Greater China was $16.372 billion, down 8% from $17.812 billion in the same period last year.

Revenue in Japan was $6.262 billion, down from $7.176 billion in the same period last year.

Revenue in the rest of the Asia-Pacific region was $6.723 billion, down from $8.119 billion in the same period last year.

By product:

Apple's second-quarter revenue from iPhone was $45.963 billion, down from $51.334 billion in the same period last year and falling short of analysts' expectations. According to data provided by LSEG, a provider of financial market data, information and infrastructure, analysts had on average expected Apple's iPhone revenue to reach $46 billion in the second quarter.

Revenue from Mac was $7.451 billion, up from $7.168 billion in the same period last year, beating analysts' expectations. According to data provided by LSEG, analysts had on average expected Apple's second quarter Mac revenue to reach $6.86 billion.

Revenue from iPad was $5.559 billion, down from $6.67 billion in the same period last year and falling short of analysts' expectations. According to data provided by LSEG, analysts had on average expected Apple's second quarter iPad revenue to reach $5.91 billion.

Revenue from wearables, home devices and accessories was $7.913 billion, down from $8.757 billion in the same period last year and falling short of analysts' expectations. Analysts had on average expected Apple's revenue from wearables, home devices and accessories to reach $8.08 billion in the second quarter, according to data provided by LSEG

Revenue from services was $23.867 billion, up from $20.907 billion in the same period last year and exceeding analysts' expectations. Analysts had on average expected Apple's second-quarter service revenue to reach $23.27 billion, according to LSEG.

Apple's total cost of sales in the second quarter was $48.482 billion, down from $52.86 billion in the same period last year. Of this total, the cost of selling products was US $42.424 billion, down from US $46.795 billion in the same period last year, while the cost of selling services was US $6.058 billion, basically unchanged from US $6.065 billion in the same period last year.

Apple's total operating expenses in the second quarter were $14.371 billion, up from $13.658 billion in the same period last year. Of this total, R & D expenditure was $7.903 billion, up from $7.457 billion in the same period last year, while sales, general and administrative expenses were $6.468 billion, up from $6.201 billion in the same period last year.

Return on Capital Program:

Apple's board of directors approved a 4% increase in the quarterly dividend and will pay a cash dividend of $0.25 per share to the company's common shareholders, which will be paid on May 16, 2024 to shareholders of record ending business hours on May 13, 2024.

In addition, Apple's board of directors has approved another share buyback program that will buy back up to $110 billion worth of common shares in the future.

Performance outlook:

Apple did not provide a formal outlook in its results, but CEO Tim Cook (Tim Cook) said in an interview that overall sales in the third quarter were expected to achieve "low single-digit growth" in percentage terms.

　　此外，在财报发布后召开的分析师电话会议上，苹果公司CFO卢卡·马埃斯特里（Luca Maestri）表示，按百分比增幅计算，该公司预计第三财季iPad销售将实现两位数的同比增长；同时还补充称，预计苹果公司的服务部门将继续以过去两个季度的速度实现增长。

　　股价变动：

　　当日，苹果公司股价在纳斯达克常规交易中上涨3.73美元，报收于173.03美元，涨幅为2.20%。

　　在随后截至美国东部时间2日下午5点42分（北京时间3日凌晨5点42分）为止的盘后交易中，苹果公司股价再度大幅上涨11.17美元，至184.20美元，涨幅为6.45%。过去52周，苹果公司的最高价为199.62美元，最低价为164.08美元。