London | Apple shares jumped in late trading after the company posted stronger than expected sales last quarter and predicted a return to growth in the current period, sparking optimism that a slowdown is easing.

Revenue fell 4.3 per cent to $US90.8 billion ($138 billion) in the fiscal second quarter, which ended on March 30, the company said in a statement on Thursday (Friday AEST). That compared with an average analyst estimate of $US90.3 billion. Profit in the quarter also topped Wall Street projections, and the company announced another $US110 billion in share buybacks.

Bloomberg