Apple results blow past estimates, shares rise
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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 reported net income for the fiscal third quarter ended June 26 of $3.25 billion, or $3.51 cents a share, up from $1.83 billion, or $2.01 cents a share, in the year-ago period.
Analysts on average were expecting earnings of $3.11 a share, according to Thomson Reuters I/B/E/S.
Revenue rose to $15.7 billion, well ahead of Wall Street’s forecast for $14.75 billion.
For the current quarter, Apple estimated earnings of $3.44 a share on revenue of $18 billion.
Shares of Cupertino, Calif.-based Apple closed up 2.6 percent at $251.89 on Nasdaq and rose to $260.50 in extended trading.
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