U.S. Markets closed

Apple Beats Earnings Estimates, Announces Stock Split

Apple reported earnings on Wednesday of $11.62 on $45.6 billion in revenues for its second quarter fiscal 2014 results, beating analysts’ estimates of $10.18 a share on $43.53 billion in revenue. Investors eagerly watched iPhone unit sales. Looking ahead investors want more product innovation. The iPad with retina display and Carplay are expected to boost growth and profitability. Apple also announced it will increase its share repurchase authorization to $90 billion and increase its dividend.