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Apple tops 2Q net income and revenue expectations

CUPERTINO, Calif. – 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 per cent since the beginning of the year, while the Standard & Poor’s 500 index has increased slightly more than 2 per cent. In the final minutes of trading on Monday, shares hit $132.65, an increase of 62 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. Access a Zacks stock report on AAPL at http://www.zacks.com/ap/AAPL

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Keywords: Apple, Earnings Report, Priority Earnings