Apple's fiscal second-quarter earnings exceeded estimates, propelling its shares to surge by 7% in after-hours trading. The company unveiled an expanded stock buyback program, with the board approving $110 billion in share repurchases, marking it as the largest buyback in history.

Despite a 4% decline in overall sales and a 10% drop in iPhone sales year-over-year, Apple highlighted strong performances across various segments:

- EPS: $1.53 vs. $1.50 estimated
- Revenue: $90.75 billion vs. $90.01 billion estimated
- iPhone revenue: $45.96 billion vs. $46.00 billion estimated
- Mac revenue: $7.5 billion vs. $6.86 billion estimated
- iPad revenue: $5.6 billion vs. $5.91 billion estimated
- Other Products revenue: $7.9 billion vs. $8.08 billion estimated
- Services revenue: $23.9 billion vs. $23.27 billion estimated
- Gross margin: 46.6% vs. 46.6% estimated

Apple's CEO, Tim Cook, expressed confidence in the company's growth outlook, forecasting overall sales to grow in the "low single digits" during the June quarter. Notably, Apple anticipates double-digit year-over-year growth in iPad sales and continued expansion in its Services division.

Despite challenges such as COVID-19-related supply issues, Apple remains bullish on its future prospects. Cook emphasized plans for new product announcements, particularly at the upcoming iPad product event and Worldwide Developers Conference in June.

Sales in Greater China, although declining by 8%, surpassed analyst expectations, suggesting resilience against local competitors. Cook highlighted surprising growth in iPhone sales in China during the quarter.

In addition to the expanded buyback program, Apple announced a 25-cent dividend, representing a 1-cent increase. The company remains committed to delivering value to shareholders while pursuing innovation and capitalizing on growth opportunities.