CUPERTINO, Calif. (AP) — CUPERTINO, Calif. (AP) — Apple Inc. (AAPL) on Thursday reported fiscal fourth-quarter profit of $27.47 billion.
The Cupertino, California-based company said it had net income of $1.85 per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.73 per share.
The maker of iPhones, iPads and other products posted revenue of $102.47 billion in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $101.2 billion.
Apple shares have risen slightly more than 8% since the beginning of the year, while the S&P’s 500 index has climbed 16%. In the final minutes of trading on Thursday, shares hit $271.40, a rise of 18% 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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