Apple reported quarterly earnings and revenue that beat analysts' expectations.
The company reported second-quarter earnings of $2.33 per share on revenue of $58 billion on Monday. Analysts expected tech giant Apple to report earnings of $2.16 a share and $56.08 billion in revenue, according to a consensus estimate from Thomson Reuters.
During the same period last year, Apple posted earnings of $1.66 per share on $45.6 billion in revenue.
The firm also announced Monday that it would expand its capital return program to $200 billion from a previously announced $130 billion. This estimated figure comes from Apple increasing its share repurchase authorization to $140 billion from the $90 billion announced last year, and boosting its dividend 11 percent to 52 cents per share. The planned program goes through March of 2017, Apple said.
CEO Tim Cook said on the firm's earnings call that the buyback reflects "our strong confidence in what lies ahead for Apple."
The tech giant said its cash horde had risen to a record $193.5 billion—over $171 billion of which was located offshore. Last quarter the total cash figure came in at $178 billion, according to the company.