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Apple Posts $ 10.5 Billion Profit This Quarter

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Apple Posts $ 10.5 Billion Profit This Quarter

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While most companies are struggling to get any sales, Cupertino electronics giant Apple just posted a net profit of $ 10.5 Billion. Although, lower than last year’s income of $13.6 billion Apple is still going strong.

The Company posted lower quarterly revenue of $50.6 billion which compared to revenue of $58 billion, in the year-ago quarter, is not a big drop.

“Our team executed extremely well in the face of strong macroeconomic headwinds,” said Tim Cook, Apple’s CEO.

We generated strong operating cash flow of $11.6 billion and returned $10 billion to shareholders through our capital return program during the March quarter,” said Luca Maestri, Apple’s CFO.

Apple also means to give back to its shareholders, The company has authorized an increase of $50 billion to the Company’s program to return capital to shareholders. Under the expanded program, Apple plans to spend a cumulative total of $250 billion of cash by the end of March 2018

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About The Author
Deviana
Deviana
Mobile phone lover, Deviana, is iGyaan's Mobile news correspondent
4 comments
Anjan Pratapsingh
Anjan Pratapsingh

You igyaanis should change your name from igyaan to applegyaan.Because your chief editor is an ifan.

Ankit Rai
Ankit Rai

Watch out, People who never owned an apple will be found pooping out here! :v

Subrat Kumar Bhoi
Subrat Kumar Bhoi

i think APPLE is a vvip begger in TECH industry....... When they feel that their profit going down the next moment they increase the price of their products.....!!!! But i love to eat APPLE

Samrat Wadekar
Samrat Wadekar

Obviously they sell their phone and other devices thrice the cost of manufacturing...