Apple beats Wall Street estimates, shares rise
Apple Inc
The company posted a net profit of $1.67 billion, or $1.82 a share, in its fiscal fourth quarter ended September 26, up from $1.14 billion, or $1.26 a share, in the year-ago period.
Analysts were expecting a profit of $1.42 a share, according to Thomson Reuters I/B/E/S.
Revenue rose 25 percent to $9.87 billion, ahead of the average Wall Street estimate of $9.2 billion.
Apple forecast earnings for the current quarter of $1.70 to $1.78 a share on revenue of $11.3 billion to $11.6 billion.
Shares of Cupertino, California-based Apple closed at $189.86 on Nasdaq and rose to $200.21 in extended trading.
(Reporting by Gabriel Madway; Editing by Richard Chang)
© Copyright Thomson Reuters 2024. All rights reserved.