Apple increases dividend, share buybacks amid in-line Q1

Nieuws Mobiel Wereld 1 MAY 2020
Apple increases dividend, share buybacks amid in-line Q1
Apple reported revenues for its fiscal second quarter to end March in line with expectations, up 1 percent year-on-year to USD 58.313 billion, but said service revenues reached a new all-time high of USD 13.348 billon (from 11.450 billion) and that wearables also reached record levels. Earnings per share lifted 4 percent meanwhile to USD 2.55. International sales accounted for 62 percent of total revenues and the operating cash flow increased by USD 2.2 billion to 13.3 billion. As a result, the company has lifted its quarterly cash dividend by 6 percent to USD 0.82 per share, from 0.77 per share in the previous quarter. The company also upped its existing share buyback programme by USD 50 billion. 

CFO Luca Maestri said the company’s installed base of devices also marked record levels in all geographic segments and major product categories. The CFO said the company was “confident” in the future and that it continues to invest in all areas of its business to support its long-term plans, including its five-year commitment to contribute USD 350 billion to the US economy.’ 

Looking more closely at results, sales in the Americas were almost unchanged, off at USD 25.473 billion form 25.596 billion. They rose in Europe to USD 14.294 billion from 13.054 billion but fell in Greater China to USD 9.455 from 10.218 and in Japan to USD 5.206 billion form 5.532 billion. In the rest of Asia Pacific, they increased somewhat to USD 3.885 billion from 3.615 billion. 

The company ended the quarter with a cash position of USD 43.049 billion from 39.817 billion the year earlier.

 

iPhone sales off, Wearables up

By category, iPhone sales slipped to USD 28.962 billion from 31.051 billion while at Wearables, they advanced to USD 6.284 billion form 5.129 billion. Sales dipped a bit for Macs and iPads to USD 5.351 billion and 4.368 billion respectively, but rose for services to USD 13.348 billion from 11.450.

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