Apple Inc. shares were gaining in after-hours trading Tuesday after the company topped expectations with its fiscal third-quarter results and gave an upbeat forecast for the current period.
The company reported net income of $10.04 billion, or $2.18 a share, down from $11.52 billion, or $2.34 a share, a year earlier. Analysts surveyed by FactSet had been modeling earnings per share of $2.09.
Revenue for the fiscal third quarter rose to $53.8 billion, compared with $53.27 billion a year prior. The FactSet consensus was calling for $53.32 billion.
The stock AAPL, -0.43% was up 2.9% in after-hours trading.
See also: FireEye earnings hampered by cloud upgrades and renewal rates, stock falls
Apple’s revenue number includes $25.99 billion in iPhone revenue, $5.02 billion in iPad revenue, $5.82 billion in Mac revenue, $11.46 billion in services revenue, and $5.53 billion in wearables, home, and accessories revenue.
Greater China has been a problem spot for Apple recently, and the company saw a sales decline there, to $9.16 billion from $9.55 billion. Sales in the Americas rose to $25.06 billion, compared with $24.54 billion a year earlier.
Don’t miss: Gilead earnings show surprising sales increase amid massive change
For the current quarter, Apple expects revenue of $61 billion to $64 billion, whereas analysts were modeling $60.9 billion. Apple’s September quarter typically includes a short window in which the company’s newest iPhones are available for sale, so the company’s forecast may give some indication of how management expects that forthcoming lineup to perform.
Apple shares have risen 32% so far this year, while the Dow Jones Industrial Average DJIA, -0.09%, of which Apple is a component, has climbed 17%.
Add Comment