Tuesday that fell in line with expectations, although revenue was down from the same period last year. However, Apple's guidance for next quarter was higher than analysts expected, and it said it planned to spend $75 billion buying back its own shares.Here's how the company did compared to what Wall Street expected:: $58.02 billion vs. $57.37 billion forecast by Refinitiv consensus estimates: $31.05 billion vs. $31.
"I believe that the trade relationship — I don't mean the tariff, I mean the tone — is much better today than it was in the November-December time frame. That affects consumer confidence in a positive way," Cook said. "The June guidance was a jaw dropper in terms of strength and speaks to Cook and Cupertino getting back their sea legs after the December debacle," Wedbush analyst Dan Ives said.Apple also said that it would spend $75 billion on share repurchases and it also approved a 77 cent dividend per share, a 5% increase. Apple announced that it would spend $100 billion during this period last year. Cook said that Apple had returned $27.5 billion to shareholders last quarter.
When asked about which new service he thought would be the most financially meaningful, Cook said: "We wouldn't do a service that wouldn't be meaningful, these aren't hobbies."
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