Apple sales and profits surged in its most recent quarter, topping Wall Street expectations, thanks in part to a 22-percent jump in iPhone sales, the Cupertino company reported Tuesday.
Apple’s stock jumped on the news. In recent after-hours trading, it was up $2.69 a share, or 2.4 percent, to $117.24.
In its fiscal fourth quarter, the electronics maker earned $11.1 billion, or $1.96 a share. Total profits were up 30 percent from the year-earlier period, when the company earned $8.5 billion, or $1.42 a share.
Apple tallied $51.5 billion in sales in the most-recent quarter, a figure that was up 22 perent from its fourth quarter last year.
Both the company’s top and bottom line surpassed analysts forecast. On average, Wall Street analysts were expecting the company to earn $1.88 a share on sales of $51.1 billion.
The company did not profide specific earnings guidance for its first quarter, which coincides with the holiday season. But it did say it expected to see sales of between $75.5 billion and $77.5 billion.
Prior to the report, analysts were calling for earnings of $3.22 a share in the holiday period on $77.1 billion in revenue.
In its fourth quarter, Apple sold 48 million iPhones, which was in-line with analysts estimates, but up significantly from the 39.3 million the company sold in the same period last year.
Apple’s shares closed regular trading on Tuesday down 73 cents, or 0.6 percent, to $114.55.
Contact Troy Wolverton at 408-840-4285. Follow him at Twitter.com/troywolv.
