Apple announces $110bn share buyback after quarterly profit and revenue drop
Apple announced its largest share buyback programme, worth $110 billion, on Thursday after reporting an annual drop in its March quarter net profit and revenues.Apple’s chief financial officer Luca Maestri said the board has authorised the share repurchases “given our confidence in Apple’s future and the value we see in our stock”.The Cupertino-based company reported a 2.2 per cent annual drop in the 2024 fiscal second-quarter net profit to more than $23.6 billion. Its earnings per share stood a...
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