Apple reported stronger-than-anticipated iPhone sales on Thursday, beating Wall Street's low expectations for the second quarter.

The tech company's second-quarter revenue came in at $94.8 billion, down from $97.3 billion a year ago. However, analysts had been expecting $92.9 billion in revenue.

The better than expected revenue came from increased iPhone sales, which rose to $51.3 billion from $50.6 billion.

Apple CEO Tim Cook told CNBC that the quarter was "better than we expected."

"It was quite a good quarter from an iPhone point of view, particularly relative to the market when you look at the market stats," Cook told CNBC.

Apple reported $24.16 billion in net income during the quarter versus $25.01 billion last year.

While sales declined in most regions, they did grow in the Asia Pacific region.

The company's Mac business fell more than 31 percent and revenue from iPads declined 13 percent. Its wearables, home and accessories category remained essentially flat, with sales of $8.8 billion.

Apple's board also gave the OK for $90 billion in share buybacks and dividends. Cook also said that the company was not planning any layoffs this year.

"I view that as a last resort and, so, mass layoffs is not something that we're talking about at this moment," Cook said.

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