Apple’s CEO Tim Cook, said,“Our March quarter results show the continued strength of our installed base of over 1.4 billion active devices, as we set an all-time record for Services, and the strong momentum of our Wearables, Home and Accessories category, which set a new March quarter record,” “We delivered our strongest iPad growth in six years, and we are as excited as ever about our pipeline of innovative hardware, software, and services. “We’re looking forward to sharing more with developers and customers at Apple’s 30th annual Worldwide Developers Conference in June.” Luca Maestri, Apple’s CFO also added,“We generated operating cash flow of $11.2 billion in the March quarter and continued to make significant investments in all areas of our business. “We also returned over $27 billion to shareholders through share repurchases and dividends. Given our confidence in Apple’s future and the value we see in our stock, our Board has authorized an additional $75 billion for share repurchases. “We are also raising our quarterly dividend for the seventh time in less than seven years.”Loudest take : Even as Apple loses its momentum with its most popular product- the iPhone, the company has realized that the buck lies in the ecosystem of services which it provides. The focus on services and adjacent devices has increased and the revenues have slowly started to reflect that prominently year-on-year.
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