Apple Inc (AAPL)

[Drmicrocap]

Apple beats Street 2Q forecasts

Apple tops 2Q net income and revenue expectations

CUPERTINO, Calif. (AP) _ Apple Inc. (AAPL) on Monday reported fiscal second-quarter profit of $13.57 billion.

The Cupertino, California-based company said it had profit of $2.33 per share.

The results exceeded Wall Street expectations. The average estimate of 19 analysts surveyed by Zacks Investment Research was for earnings of $2.19 per share.

The maker of iPhones, iPads and other products posted revenue of $58.01 billion in the period, which also topped Street forecasts. Fifteen analysts surveyed by Zacks expected $56.6 billion.

For the current quarter ending in June, Apple said it expects revenue in the range of $46 billion to $48 billion. Analysts surveyed by Zacks had expected revenue of $46.93 billion.
Apple shares have climbed 20 percent since the beginning of the year, while the Standard & Poor's 500 index has increased slightly more than 2 percent. In the final minutes of trading on Monday, shares hit $132.65, an increase of 62 percent in the last 12 months. Less

Sentiment: Strong Buy