Apple Inc. (Nasdaq: AAPL) pleasantly surprised Wall Street by comfortably beating expectations when it reported earnings for its March quarter after the market close today (Wednesday).
The Cupertino, Calif.-based tech giant also threw existing holders of Apple stock several goodies, including an expansion of the stock buyback program, a seven-for-one stock split, and an 8% increase in the dividend.
The Apple stock buyback program will expand by $30 billion, to bring the total by 2015 to $130 billion.The raft of happy news sent AAPL stock up more than 8% in after-hours trading.
Apple reported earnings per share of $11.62, a healthy $1.46 above the $10.16 analysts had forecast as well as the $10.09 reported in the same quarter a year ago.
Revenue was $45.6 billion, which was $2 billion above both the year-ago quarter and analyst expectations.
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