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Apple posts 4Q profit, results top Street expectations

CUPERTINO, Calif. – CUPERTINO, Calif. (AP) _ Apple Inc. (AAPL) on Monday reported earnings of $8.47 billion in its fiscal fourth quarter.

On a per-share basis, the Cupertino, California-based company said it had profit of $1.42.

The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.30 per share.

The maker of iPhones, iPads and other products posted revenue of $42.12 billion in the period, also exceeding Street forecasts. Analysts expected $39.96 billion, according to Zacks.

For the current quarter ending in December, Apple said it expects revenue in the range of $63.5 billion to $66.5 billion. Analysts surveyed by Zacks had expected revenue of $64.44 billion.

Apple shares have climbed 24 per cent since the beginning of the year, while the Standard & Poor’s 500 index has risen 3 per cent. In the final minutes of trading on Monday, shares hit $99.76, an increase of 37 per cent 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. AAPL stock research report from Zacks: http://www.zacks.com/ap/AAPL

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Keywords:Apple,Earnings Report,Priority Earnings