Apple sales fall less than expected, beating Wall Street estimates

Apple, Inc. posted a year-over-year diminution successful gross successful its fiscal second-quarter net study aft nan doorbell connected Thursday but still hit Wall Street's expectations.

The tech giant's income fell 4.3% from nan anterior year, coming successful astatine $90.75 billion. Analysts anticipated $90.01 billion.

The Apple logo extracurricular Bill Graham Civic Auditorium earlier nan commencement of an arena successful San Francisco Sept. 7, 2016.  (Josh Edelson/AFP via Getty Images / Getty Images)

IPhone sales fell 10.5% to $45.96 billion, successful statement pinch expectations. Apple executives said successful February nan erstwhile year's fiscal 2nd 4th had benefited from a $5 cardinal surge successful iPhone income arsenic nan institution caught up from proviso concatenation snarls during pandemic lockdowns.

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Shares of Apple roseate almost 3% successful extended waste and acquisition aft nan report. Apple's stock has fallen 10% truthful acold successful 2024, underperforming nan S&P 500's 6% rise.

Apple besides announced a stock buyback of an further $110 cardinal and said it is raising its quarterly dividend for nan 12th year successful a row.

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Reuters contributed to this report.