The tech giant said its iPhone revenue was $31.05 billion and its services revenue was $11.45 billion. Analysts expected Apple to deliver $31.10 billion revenue from iPhone and $11.37 billion revenue from services.
For the third quarter, Apple is expecting to generate revenue in the range of $52.5 billion to $54.5 billion. It is anticipating its gross margin to be between 37 percent and 38 percent.
Apple Board approved a huge capital returns
Apple CFO Lucas Maestri said the company generated $11.2 billion operating cash flow and made significant investments in all areas of its business. He added that the tech giant returned more than $27 billion to shareholders through stock buybacks 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,” said Maestri.
Apple’s Board of Directors declared a cash dividend of $0.77 per share of its Common stock, an increase of five percent. The dividend will be payable on May 16, 2019 to shareholders of record as of the close of business on May 13, 2019.
