Apple Soars Following Q2 Top & Bottom Line Beat, Stock Split, Dividend Raise, Increased Buyback

Apple AAPL just reported second quarter results which significantly beat analyst estimates, sending the stock soaring over eight percent after trading resumed. The company reported earnings per share of $11.62 versus $10.17 analyst estimates. Revenue came in at $45.65 billion versus $43.55 billion analyst estimates. Revenues were up 4.7 percent from $43.6 billion a year ago. Apple also announced a 7-for-1 stock split, raised the stock buyback plan by $30 billion to $130+ billion and increased the quarterly dividend by eight percent from $3.05 to $3.29 per share. Sales for the iPhone came in at 43.7 million, iPads at 16.35 million, and Macs at 4.1 million. Management sees third quarter sales in the range of $36.0-$38 billion versus analyst estimates of $37.87 billion. “We're very proud of our quarterly results, especially our strong iPhone sales and record revenue from services,” said Tim Cook, Apple's CEO. As of this writing, shares of Apple are up over seven percent after hours.