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- Source type: Blog
- On Ebuzzing since: 28/10/2008
- Ebuzzing score: 2.04622
- Country: United Kingdom
- Language: English
Apple returned to its old forecast-busting ways on Wednesday, reporting better-than-expected revenue and iPhone growth. Even though iPad sales underwhelmed, Wall Street cheered the second-quarter results with an 8 per cent spike in after-hours trading. Apple also added $30bn in new dividends and share buybacks to its existing $100bn capital return programme, alongside a seven-for-one stock split.
In a handy coincidence of scheduling, Apple and Facebook will both report earnings after the market closes on Wednesday. The two Silicon Valley giants will give Wall Street a fast look at the state of the mobile and online advertising markets, at a time when tech valuations are facing growing questions from investors like David Einhorn . Read more