Apple Announces $110B Share Buyback — Largest in Company History
Apple unveiled a record buyback program alongside strong services growth, sending shares up over 5% in after-hours trading.
Apple announced a $110 billion share repurchase authorisation — the largest in the company's history — alongside quarterly results that beat estimates on both revenue and earnings per share. The announcement signals management's confidence in the company's cash-generative capacity and commitment to returning capital to shareholders.
Services revenue, which includes the App Store, Apple Music, iCloud, and Apple Intelligence subscription tiers, grew 14% year-over-year to $24.2 billion — now representing nearly 25% of total company revenue. CEO Tim Cook highlighted the continued services attach rate as iPhone upgrades accelerate around the AI feature cycle.
Quarterly results highlights
- —Total revenue: $96.4B (+6% YoY)
- —Services revenue: $24.2B (+14% YoY)
- —iPhone revenue: $47.0B (in line with estimates)
- —EPS: $1.65 adjusted (estimates: $1.59)
- —$110B buyback authorisation announced
We are incredibly excited about the AI features coming to Apple platforms. The upgrade cycle this creates is just beginning. — Tim Cook, CEO Apple