Apple earnings

FROM CUPERTINO WITH LOVE: In this afternoon’s earnings call, Apple announced a 7% increase in quarterly profit and a 7-to-1 stock split. Cupertino increased its dividend to 8% and added $30b to its share buyback program; some $11b in dividend payments should go out to investors this year. Q2 sales were at $45.6 billion and net profit $10.2b; revenue in the Americas rose to $14.3 billion (up from $14.05b a year ago). European revenue grew 4% to $10.2b; the picture was also improved in China, but down for the rest of Asia. As for income sources, the company moved 47m iPhones (exceeding expectations),16m iPads (lower than expectations), 4.1m Macs and 2.7m iPods; iTunes sales and services overall generated $2.6 billion, up 11% (that includes app, games, movies and TV sales, more than making up for the dip in music sales). CEO Tim Cook's Q3 forecast calls for $36-38b in revenue. The earnings news drove Apple stock up 7.9% in aftermarket trading to $566.19. (4/23p)