Apple's Q2 earnings beat expectations with strong iPhone sales.
Apple reports Q2 earnings with quarterly revenue of $94.8 billion, down 3% YoY, and earnings per diluted share of $1.52, unchanged YoY. Services revenue reached an all-time high, while iPhone revenue set a March quarter record. The company generated strong operating cash flow of $28.6 billion and returned over $23 billion to shareholders during the quarter. Apple's board of directors authorized an additional $90 billion for share repurchases and raised its quarterly dividend for the eleventh year in a row.