Apple's second quarter results show sales rose 16% to $61.1bn in the three months to 31 March. Growth was driven by improvements in all products and geographies.
The group also announced it will be 'working towards a more optimal capital structure'. This means Apple is boosting shareholder returns. The group is raising the quarterly dividend 16% to $0.73 per share, and has promised a new $100bn share buyback.
The shares rose 3.7% in after-market trading.
Second quarter trading details
Apple's main source of revenue remains iPhone sales, which rose 14% year-on-year to $38bn, despite volumes rising only 3%. This reflects the higher price of the latest models.
Services, which includes the app store and Apple Pay, again delivered strong growth, with revenue rising 31% to $9.2bn. With iPad and Mac sales at $4.1bn and $5.8bn respectively, Services is now comfortably Apple's second largest division.
While group margins fell slightly, higher sales and a significantly lower tax expense ensured pre-tax profit rose 25.3% to $13.8bn.
Looking ahead, Apple expects revenue of between $51.5bn and $53.5bn in Q3, which would represent another increase of around 16% on the prior year. Gross margins are set to be between 38% and 38.5%, broadly level with Q2, but slightly down on the Q3 2017.
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