CUPERTINO, Calif. (AP) — CUPERTINO, Calif. (AP) — Apple Inc. (AAPL) on Thursday reported fiscal first-quarter net income of $42.1 billion.
The Cupertino, California-based company said it had net income of $2.84 per share.
The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $2.65 per share.
The maker of iPhones, iPads and other products posted revenue of $143.76 billion in the period, also beating Street forecasts. Nine analysts surveyed by Zacks expected $137.81 billion.
Apple shares have fallen 5% since the beginning of the year, while the S&P’s 500 index has increased nearly 2%. In the final minutes of trading on Thursday, shares hit $258.18, an increase of almost 8% 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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