Apple earnings results: Tim Cook announces biggest-ever stock buyback of $110 billion as sales and EPS beat expectations

• Apple reported its fiscal second-quarter earnings on Thursday.
• The company beat on sales and earnings per share, and did better than expected in China.
• Apple announced a $110 billion stock buyback — its biggest ever. Shares climbed 6% after hours.

Apple reported fiscal second-quarter earnings on Thursday after the closing bell. Wall Street was pleased, with shares popping 6% in after-hours trading.

The company reported revenue and earnings per share that beat consensus expectations. It also saw better-than-expected sales in Greater China, which has been a source of concern for investors wary of a slowdown.

However, overall iPhone sales were down 10% year over year.