Apple: Fiscal 1Q Earnings Snapshot
CUPERTINO, Calif. (AP) _ Apple Inc. (AAPL) on Tuesday reported fiscal first-quarter profit of $19.97 billion.
The Cupertino, California-based company said it had profit of $4.18 per share.
The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $4.17 per share.
The maker of iPhones, iPads and other products posted revenue of $84.31 billion in the period, also exceeding Street forecasts. Nine analysts surveyed by Zacks expected $84.07 billion.
For the current quarter ending in April, Apple said it expects revenue in the range of $55 billion to $59 billion. Analysts surveyed by Zacks had expected revenue of $59.62 billion.
Apple shares have dropped nearly 2 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen slightly more than 5 percent. In the final minutes of trading on Tuesday, shares hit $154.68, a decline of nearly 8 percent in the last 12 months.
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