Apple CFO Luca Maestri Pumps Confidence, Says iPhone Maker Returned $32B To Shareholders In Q3
Portfolio Pulse from Kaustubh Bagalkote
Apple Inc. (NASDAQ:AAPL) returned over $32 billion to shareholders in Q3 FY2024, including $3.9 billion in dividends and $26 billion in share repurchases. The company reported a record June quarter revenue of $85.8 billion and earnings per share of $1.40. Apple announced a $0.25 per share dividend payable on Aug. 15. Despite a 1.68% drop in stock price on Thursday, it rose 0.57% in after-hours trading and is up 17.63% year-to-date.
August 02, 2024 | 2:35 am
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Apple returned $32 billion to shareholders in Q3 FY2024, including $3.9 billion in dividends and $26 billion in share repurchases. The company reported record June quarter revenue of $85.8 billion and earnings per share of $1.40. A $0.25 per share dividend was announced, payable on Aug. 15.
The substantial return of capital to shareholders and record financial performance are positive indicators for Apple's stock. The announcement of a dividend and strong earnings should bolster investor confidence, likely leading to a short-term price increase.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100