Apple results blow past Wall Street's estimates
Apple reported results that blew past Wall Street's forecasts, boosted by robust sales of Mac computers. Gainers and losers | Luxury phones get grand reception in India
By Agencies |
SAN FRANCISCO: Apple Inc reported results that blew past Wall Street's forecasts, boosted by robust sales of Mac computers, and its shares rose 3.4 percent in after-hours trading.
Apple said it sold about 3.3 million iPads in April through June, the gadget's first three months on the market. IPhone unit sales rose 61 percent, with a boost at the end of the quarter from the launch of the iPhone 4.
Apple's net income jumped to $3.25 billion, or $3.51 per share, from $1.8 billion, or $2.01 per share a year ago.
Revenue increased 61 percent to $15.7 billion, from $9.7 billion last year.
That's better than Wall Street expected. Analysts surveyed by Thomson Reuters had forecast net income of $3.11 per share in the quarter on $14.7 billion in revenue.
Apple shares rose $7.29, or 2.9 percent, to $259.18 in extended trading after the release of the results.
For the current quarter, Apple estimated earnings of $3.44 a share on revenue of $18 billion.
Shares of Cupertino, California-based Apple closed up 2.6 percent at $251.89 on Nasdaq and rose to $260.50 in extended trading.
Apple said it sold about 3.3 million iPads in April through June, the gadget's first three months on the market. IPhone unit sales rose 61 percent, with a boost at the end of the quarter from the launch of the iPhone 4.
Apple's net income jumped to $3.25 billion, or $3.51 per share, from $1.8 billion, or $2.01 per share a year ago.
Revenue increased 61 percent to $15.7 billion, from $9.7 billion last year.
That's better than Wall Street expected. Analysts surveyed by Thomson Reuters had forecast net income of $3.11 per share in the quarter on $14.7 billion in revenue.
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Apple shares rose $7.29, or 2.9 percent, to $259.18 in extended trading after the release of the results.
For the current quarter, Apple estimated earnings of $3.44 a share on revenue of $18 billion.
Shares of Cupertino, California-based Apple closed up 2.6 percent at $251.89 on Nasdaq and rose to $260.50 in extended trading.
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