Apple (NASDAQ) announced its Q2 results. EPS was $1.52, which is better than the consensus estimate (1.43). The Q2 revenue record of $97.3 billion was broken by a 9% increase in year-over-year, beating the $93.89 billion consensus estimate.

According to Luca Maestri, Apple’s CFO, the company achieved an all-time revenue record for Services and Q2 revenue records for iPhone, Mac, and Wearables, Home and Accessories.

iPhone sales increased to $50.57 Billion in this quarter, compared with $47.94 Billion in the previous quarter. Mac sales rose by $10.435billion to $9.102billion. iPad sales declined to $7.646billion from $7.8007billion.

The services revenue increased to $19.821 trillion from $16.901 million in the previous quarter.

The company’s board of directors announced a 5% increase in its cash dividend ($0.23 per share) on its common stock, payable on May 12 to shareholders of record as of the close of business on May 9.

Furthermore, the board of directors authorized an increase of $90 billion to the company’s existing share repurchase program.

Apple shares were down by 8% in the year to date going into this earnings print.

By Davit Kirakosyan