CUPERTINO, Calif. (AP) — CUPERTINO, Calif. (AP) — Apple Inc. (AAPL) on Thursday reported fiscal fourth-quarter net income of $22.96 billion.
On a per-share basis, the Cupertino, California-based company said it had profit of $1.46.
The results topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.39 per share.
The maker of iPhones, iPads and other products posted revenue of $89.5 billion in the period, which also beat Street forecasts. Ten analysts surveyed by Zacks expected $89.03 billion.
Apple shares have increased 37% since the beginning of the year, while the S&P’s 500 index has increased 12%. In the final minutes of trading on Thursday, shares hit $177.57, a rise of 22% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AAPL at https://www.zacks.com/ap/AAPL
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