Apple posted a revenue of $45.6 billion and net profit of $10.2 billion in the second quarter of the year on the back of strong iPhone sales and record revenue from services. International sales accounted for 66 percent of the quarter’s revenue.
Gross margin was up from 37.5 percent in the second of quarter of 2013 to 39.3 percent this quarter.
Apple has also announced that its Board of Diretors has authorized another increase to the company’s program to return capital to shareholders. The company expects to utilize a total of over $130 billion of cash under the expanded program by the end of calendar 2015.
Moreover, the board has approved an increase to the company’s quarterly dividend of approximately 8 percent and has declared a dividend of $3.29 per common share, payable on 15 May 15 2014.
From August 2012 through March 2014, Apple has spent $66 billion in cash on its capital return program. With annual payments of $11 billion, Apple is among the largest dividend payers in the world.
“We’re confident in Apple’s future and see tremendous value in Apple’s stock, so we’re continuing to allocate the majority of our program to share repurchases," Tim Cook, Apple’s CEO, said.