Shares of Apple Inc. were up 4.1% in after-hours trading Tuesday after the company fell short of expectations for iPhone sales growth but announced an increase to its capital-returns program. Apple reported net income of $13.8 billion for its fiscal second quarter, or $2.73 a share, up from $11 billion a year earlier, or $2.10 a share. Analysts were expecting net income of $13.5 million, or $2.62 a share, according to FactSet. Revenue rose 16%, to $61.1 billion, and came in just ahead of of the FactSet consensus of $60.9 billion. The company announced $100 billion in additional share buybacks and a 16% increase in its quarterly dividend. Apple’s third-quarter outlook calls for revenue of $51.5 billion to $53.5 billion. Analysts were expecting revenue of $51.5 billion for the third quarter. Apple sold 52.2 million iPhones in the quarter, below estimates for 53 million. The company generated $38 billion in revenue from iPhone sales, below the $39.1 billion consensus figure. Revenue from Apple’s services segment rose 31% to $9.1 billion and beat estimates for $8.4 billion. “Customers chose iPhone X more than any other iPhone each week in the March quarter, just as they did following its launch in the December quarter,” Chief Executive Tim Cook said in the release. “We also grew revenue in all of our geographic segments, with over 20% growth in Greater China and Japan.” Apple shares are up 15% over the past 12 months, while the Dow Jones Industrial Average , of which Apple is a component, has gained 15%.