Apple on Tuesday announced the results for its second fiscal quarter of 2019. The company reported revenues of $58 billion for the quarter, which was down 5 percent from a year ago.
Apple also highlighted Services revenues of $11.5 billion, and announced a $75 billion stock repurchase program.
“Our March quarter results show the continued strength of our installed base of over 1.4 billion active devices, as we set an all-time record for Services, and the strong momentum of our Wearables, Home and Accessories category, which set a new March quarter record,” Apple CEO Tim Cook said in a statement. “We delivered our strongest iPad growth in six years, and we are as excited as ever about our pipeline of innovative hardware, software and services. We’re looking forward to sharing more with developers and customers at Apple’s 30th annual Worldwide Developers Conference in June.”
“We generated operating cash flow of $11.2 billion in the March quarter and continued to make significant investments in all areas of our business,” Apple CFO Luca Maestri said. “We also returned over $27 billion to shareholders through share repurchases and dividends. Given our confidence in Apple’s future and the value we see in our stock, our Board has authorized an additional $75 billion for share repurchases. We are also raising our quarterly dividend for the seventh time in less than seven years.”
Stay tuned for additional details as they become available.
Via The Mac Observer