Moments ago, Apple reported earnings for its second fiscal quarter of 2013.
Apple Earnings were better than expected at $10.09 EPS on $43.60 billion revenue. Expectations called for $10 EPS and $42.33 billion in revenue.
Apple also announced a dividend of $3.05 a share, building upon its share repurchase program with an expansion to $60 billion (up from the $50 billion announced last year).
Before today’s earnings report, investor optimism was almost non-existent.
Abhey Lamba, a senior equity research analyst at Mizuho Securities, tells CNBC that Apple’s recent lack of new product innovation has kept investor optimism in check.
“We’re not expecting (new products) this year,” Lamba said. “For value investors it’s important for the company to leverage its balance sheet to return more cash to shareholders and be more aggressive on buybacks. For now, they need to embrace value investors until they can prove that they can create new product categories. That’s when growth investors will come.”
Stay with MMW for more details from today’s Apple earnings report as they become available.