Apple Wows Wall Street in 'Monster' Record Earnings Report
After the close of trading Tuesday on Wall Street, Apple announced the best quarterly earnings in the company's storied history. Blowing past (with hurricane-like wind speeds) Wall Street expectations, Apple said its earnings rose more than 117% to $13.06 billion last quarter, which shakes out to about $13.87 per diluted share.
For the quarter, Apple's revenue was a new quarterly best at $46.33 billion. Earnings had been forecast to climb by 57% to $10.08 a share with revenue expected to climb 45% to $38.85 billion.
Apple sold 37 million iPhones, 15.4 million iPads and 5.2 million Macs during the quarter. Each stat set a new record for Apple and far surpassed analysts' expectations.
“We’re thrilled with our outstanding results and record-breaking sales of iPhones, iPads and Macs,” said Apple CEO Tim Cook. “Apple’s momentum is incredibly strong, and we have some amazing new products in the pipeline.”
This had been Cook's first full quarter as CEO following the passing of Steve Jobs last October.
Although shares of AAPL were halted prior to the announcement of earnings, after-hours trading has since resumed with APPL similarly making history, trading a record high $450 a share.