Apple Inc. on Thursday revealed surprise growth in its iPhone business during the first three months of the year, overcoming a shortfall in Mac revenue as the company promised investors billions more in dividends and stock repurchases.
Apple AAPL shares gained between 1% and 2% in after-hours trading immediately following the release of the results. Apple’s results arrived amid concern about the state of consumer-electronics spending, given worrisome third-party data points and cautious signals from players like Qualcomm Inc. QCOM and DuPont de Nemours Inc. DD
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