Apple Posts Record Q3 Profit as Consumers Snap Up iPhones By Investing.com



© Reuters. Apple Earnings, Revenue Beat in Q3

Investing.com – Apple reported third quarter that set a record and beat Wall Street expectations.

Apple announced earnings per share of $1.30 on revenue of $81.43 billion. Analysts polled by Investing.com anticipated EPS of $1.01 on revenue of $73.26 billion.

Apple shares (NASDAQ:) are up 10% from the beginning of the year, still down 2.14% from its 52 week high of $149.98 set on July 15. They are under-performing the Dow Jones which is up 14.55% from the start of the year.

Apple shares gained 0.29% in after-hours trading Tuesday following the report.

Consumers snapped up new iPhones and other devices during the spring quarter, pushing revenue 36% higher on pace for its best fiscal year, according to analysts. Sales of iPhones rose 33%, to $39.6 billion.

Apple follows other major Information Technology sector earnings this month

Apple’s report follows an earnings beat by Microsoft on Tuesday, who reported EPS of $2.17 on revenue of $46.15B, compared to forecasts EPS of $1.91 on revenue of $44.06B.

ASML ADR had matched expectations on July 21 with second quarter EPS of $2.97 on revenue of $4.74B, compared to forecast for EPS of $2.97 on revenue of $4.87B.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar

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