Apple reports 2Q profits of $13.8 bn, up 25.3%

New York (AFP) – Apple reported a jump in second-quarter earnings Tuesday and announced a hefty new share buyback plan, although sales of iPhone smartphones narrowly missed expectations.

Apple reported a 25.3 percent rise in earnings to $13.8 billion. But iPhone sales for the quarter ending March 31 came in at 52.2 million, a bit below consensus estimates of 53 million. Shares rose 4.1 percent to $176.07 in after-hours trading.