Apple (AAPL) shares are rising in after-hours trading after topping Wall Street's second quarter expectations. Yahoo Finance Technology Editor Dan Howley breaks down the tech giant's earnings report.

Howley highlights key successes such as an all-time services revenue high, coming in at $23.87 billion, up from $20.91 billion. Mac also performed higher than anticipated, totaling $7.45 billion from its previous $6.79 billion. China's sales still lag, but they came in at $16.37 billion, higher than the Street's anticipated $15.87 billion.

While the iPhone, iPad, and wearables missed expectations this quarter, Apple stock received a boost after the company announced an increased dividend to $0.25 per share alongside the authorization of $110 billion for share repurchases.

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This post was written by Melanie Riehl