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MARKETS LIVE BLOG:

STOCKS RISE, LED BY STELLAR ALPHABET, MICROSOFT RESULTS

Chevron, Exxon under pressure as falling natural gas prices hit earnings

Apple expands buybacks by $30 bln, OKs 7-for-1 stock split

Reuters
A woman looks at the screen of her mobile phone in front of an Apple logo outside its store in downtown Shanghai September 10, 2013. REUTERS/Aly Song/Files

SAN FRANCISCO, April 23 (Reuters) - Apple Inc has approved another $30 billion 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.

(Reporting by Edwin Chan; Editing by Bernard Orr)