Apple reported quarterly sales and earnings on Tuesday that slightly topped analysts' expectations, with its outlook for the current quarter also ahead of estimates.
Why it matters: Last quarter, Apple issued a rare warning that the company would fall short of expectations amid lower iPhone demand.
The company reported per-share earnings of $2.46, 10 cents ahead of expectations, on revenue of $58 billion, slightly more than the $57.3 billion consensus estimate. Apple had said in January to expect revenue to be between $55 billion and $59 billion.
For the current quarter, which goes through the end of June, Apple said to expect revenue of $52.5 billion to $54.5 billion, compared to consensus estimates of just under $52 billion.
Stock up: Apple shares jumped on the news, trading up more than 5% in after hours, to $210.75, up $10.08, as of 4:45 ET.
By the numbers:
- iPhone revenue totaled $31.05 billion, down from $37.56 billion a year ago, but in line or slightly ahead of most analyst expectations.
- iPad revenue was $4.87 billion, up from around $4 billion a year ago.
- Mac revenue was $5.51 billion, down slightly from a year ago.
- Services revenue reached $11.45 billion, another record.
