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Apple reports 2Q profits of USD 13.8 bn, up 25.3 per cent

AFP  |  New York 

Apple reported a jump in second-quarter earnings today and announced a hefty new share buyback plan, although sales of iPhone smartphones narrowly missed expectations.

Apple reported a 25.3 per cent rise in earnings to USD 13.8 billion. But iPhone sales for the quarter ending March 31 came in at 52.2 million, a bit below consensus estimates of 53 million. Shares rose 4.1 per cent to USD 176.07 in after-hours trading.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, May 02 2018. 02:25 IST