Hot News: Apple woos investors with stock split, buyback as sales surge

Mobile telecom gear maker Ericsson posted sales and fourth-quarter operating profit below expectations. In an interview with Reuters, the company's CEO, Hans Vestberg said network projects in China and Russia had not compensated for lower sales in North America and Japan. Hayley Platt reports. Reuters

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Paul Brannen, Senior vice-president, Mobile & Enterprise, Samsung Canada joins BNN for a show-and-tell of the Samsung Galaxy S5, which launches in 150 countries today. BNN Video

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Apple Inc. has approved another $30-billion (U.S.) in share buybacks till the end of 2015 and authorized a rarely seen seven-for-one stock split, addressing calls to share more of its cash hoard while broadening the stock's appeal to individual investors.

On Wednesday, Apple reported a 4.6 percent rise in March-quarter revenue to $45.6 billion, beating Wall Street's projections after selling a sharply higher than expected 43.72 million iPhones.



Mobile telecom gear maker Ericsson posted sales and fourth-quarter operating profit below expectations. In an interview with Reuters, the company's CEO, Hans Vestberg said network projects in China and Russia had not compensated for lower sales in North America and Japan. Hayley Platt reports. Reuters Investing

Paul Brannen, Senior vice-president, Mobile & Enterprise, Samsung Canada joins BNN for a show-and-tell of the Samsung Galaxy S5, which launches in 150 countries today. BNN Video Smartphones

Steve Jobs focused on his passion: building a company known for great products. 'Everything else was secondary,' he told his biographer, Walter Isaacson. Jeff Chiu/Associated Press Market View

The commitment expands on the company's previous pledge to spend $60-billion on stock buybacks by the end of next year. The company is now earmarking $90 billion for buybacks during that time frame.

Apple also is raising its quarterly dividend to $3.29 per share as part its effort to funnel more money to stockholders.

The slowdown in revenue growth has prompted investors to wonder whether the company has lost its innovative power since the death of Steve Jobs. The buybacks will increase the price of remaining shares because there are fewer outstanding. With files from AP More to come

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