Apple Sells Fewer iPhones in Last Quarter, Shares Slide - Bloomberg

Check Apple Reports Second Quarter Results (Apple Newsroom) for full details

"Apple stock slipped about 1 percent in extended trading, following the release of the results. The shares jumped 27 percent this year and closed at a record Tuesday on anticipation for an iPhone 8 launch in the fall. That’s more than double the benchmark Nasdaq Composite Index. BGC Partners analyst Colin Gillis said before earnings were released that any weakness in iPhone sales might spark a sell-off in the stock.

Apple extended cash returns to shareholders, announcing $50 billion in new buybacks and a 63-cent dividend. Analysts had forecast 62 cents, up from the 57 cents paid in its 2016 fiscal year. The company had already announced $175 billion in repurchases, helping maintain the stock price in lulls between new products.

Earnings per share in the fiscal second quarter were $2.10 on revenue of $52.9 billion. Analysts expected profit of $2.02 per share on sales of $53.1 billion."

Apple Sells Fewer iPhones in Last Quarter, Shares Slide - Bloomberg