Apple has reported second-quarter earnings that beat analyst expectations, but has disappointed Wall Street with its outlook for the June quarter. The maker of the iPhone reported $43.6bn in revenues and earnings of $10.09 per share, compared with analyst expectations of $42.5bn and $10.07 in earnings per share. Its guidance for $33.5bn to $35.5bn in third-quarter sales though is well below the Wall Street consensus of $38.9bn. Apple has also increased its share buyback authorisation from $10bn to $60bn. Below is our blow-by-blow account of the earnings, analyst call and reaction to the news.
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