Apple's Q2 Results Exceed Expectations, Shares Surge 6% as Tech Giant Gears Up for Developer Conference in June

Apple's second-quarter results revealed better-than-expected sales and profits, boosting its shares by approximately 6% in pre-market trading on Friday. iPhone sales declined 10% year-over-year, better than feared, while Apple's Greater China revenue fell 8% but was above estimates. Earnings per share also topped estimates. Apple authorized an additional $110 billion for share repurchases and increased its dividend. Apple is dealing with slowing China sales and competition but saw growth there. Apple is gearing up new software and "generational AI" announcements at Worldwide Developers Conference in June. Shares rose over 6% on the results.