The company said it would continue to fight tobacco plaintiffs, and announced an increase in its share-repurchase program to $2.6 billion annually.

Since July 1986, Apple has completed three share-repurchase programs, buying 20 million shares of common stock.

In the past, when a company announced a share-repurchase program, its stock price typically jumped.

The increase in per-share earnings was aided by the company's share-repurchase program.

The company's debt, he added, has been taken on recently as part of a share-repurchase program, intended to lift returns for shareholders.

It said the decision would not affect reported financial results or its current share-repurchase program.

The company has fewer shares outstanding this year because of a share-repurchase program.

Those funds are likely to be used in the company's share-repurchase program.

And the company halted its share-repurchase program earlier this year.

A share-repurchase program can provide useful support to a stock during a market downturn.