It’s not just the earnings pushing the stock up about 4.3% in post market trading. Investors will be delighted by the higher-than-expected iPhone sales: 31.2M in the quarter vs expectations for about 27M. As for the core financials: Apple had net income of $6.9B, -21.8% vs the same period last year, on revenues of $35.3B, +8.6%. The top line number was just a little higher than analysts projected. But earnings at $7.47 a share were well ahead of the $7.32 consensus forecast. CEO Tim Cook says he’s “especially proud” of the iPhone number. He also sorta addressed the Street’s frustration over the long time it has taken Apple to disclose its next blockbuster product. The company is “laser-focused and working hard on some amazing new products that we will introduce in the fall and across 2014,” he says. On other fronts: Apple says it sold 14.6M iPads in the quarter that ended in June, a little shy of some projections and down from 17M in the period a year ago. It also sold 3.8M Macs, pretty much on target with forecasts and down from 4M last year.
Apple Shares Rise After It Beats Earnings And iPhone Estimates For Fiscal Q3
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