Earnings per share rose 1% to $1.53, a March quarter record, and exceeded the LSEG consensus estimate of $1.50.
This resulted in stronger-than-expected free cash flow, which is more important than operating cash flow because it is cash Apple can ultimately return to shareholders via buybacks and dividends.
During the reported quarter, Apple paid over $27 billion to shareholders, including $3.7 billion in dividends and equivalents and another $23.5 billion via the repurchase of 130 million shares.
Quarterly results Apple's services sales notched another record, which offset a slight miss in product sales and led to beats on gross and operating income.
iPad sales are expected to gain double digits year over year, much better than the 5.9% expected on Wall Street.
Persons:
Tim Cook, Cook, we're, Apple, Luca Maestri, Maestri, Jim Cramer's, Jim Cramer, Jim
Organizations:
Apple, Management, MacBook, MacBook Air, Apple Watch, Fortune, Apple Vision, KLM Airlines, CNBC, Apple Inc, Visual China, Getty
Locations:
China, Greater China, America, East, Canada, India, Spain, Turkey, Indonesia, WWDC, U.S, Australia, France, Germany, Japan, Shanghai