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Apple posts quarterly revenue decline

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Apple posted quarterly revenue of $50,6-billion and quarterly net income of $10,5-billion, or $1.90 per diluted share for the second quarter of 2015, ended 26 March.
These results compare to revenue of $58-billion and net income of $13,6-billion, or $2.33 per diluted share, in the year-ago quarter. Gross margin was 39,4% compared to 40,8% in the year-ago quarter. International sales accounted for 67% of the quarter’s revenue.
“Our team executed extremely well in the face of strong macroeconomic headwinds,” says Tim Cook, Apple’s CEO. “We are very happy with the continued strong growth in revenue from Services, thanks to the incredible strength of the Apple ecosystem and our growing base of over one billion active devices.”
The company also announced that its board has authorised an increase of $50-billion to the company’s program to return capital to shareholders. Under the expanded program, Apple plans to spend a cumulative total of $250-billion of cash by the end of March 2018.
“We generated strong operating cash flow of $11,6-billion and returned $10-billion to shareholders through our capital return program during the March quarter,” says Luca Maestri, Apple’s CFO. “Thanks to the strength of our business results, we are happy to be announcing today a further increase of the program to $250-billion.”